CVS Health Co. (NYSE:CVS) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC reduced its position in CVS Health Co. (NYSE:CVS) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041 shares of the pharmacy operator’s stock after selling 356 shares during the period. Sound Income Strategies LLC’s holdings in CVS Health were worth $92,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CVS. Hexagon Capital Partners LLC increased its stake in CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after buying an additional 178 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of CVS Health by 13.1% in the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after acquiring an additional 195 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after acquiring an additional 200 shares in the last quarter. Widmann Financial Services Inc. boosted its position in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the last quarter. Finally, DT Investment Partners LLC grew its stake in CVS Health by 7.8% in the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock valued at $175,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.6 %

CVS Health stock opened at $54.71 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The business has a 50 day moving average price of $51.24 and a two-hundred day moving average price of $56.21. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVS shares. Truist Financial reduced their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.71.

About CVS Health

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.