CVS Health Co. (NYSE:CVS) Position Reduced by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 64.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,085 shares of the pharmacy operator’s stock after selling 11,222 shares during the quarter. Peddock Capital Advisors LLC’s holdings in CVS Health were worth $273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the third quarter valued at about $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CVS shares. Truist Financial decreased their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen raised their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Performance

CVS stock traded up $3.53 during trading hours on Monday, hitting $51.54. 25,636,260 shares of the stock were exchanged, compared to its average volume of 15,179,041. The company has a 50-day simple moving average of $51.82 and a two-hundred day simple moving average of $56.55. The firm has a market capitalization of $64.86 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.85 and a beta of 0.59. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.