Narwhal Capital Management Sells 15,585 Shares of CVS Health Co. (NYSE:CVS)

Narwhal Capital Management trimmed its position in CVS Health Co. (NYSE:CVS) by 57.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,509 shares of the pharmacy operator’s stock after selling 15,585 shares during the period. Narwhal Capital Management’s holdings in CVS Health were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

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

CVS Health Price Performance

CVS stock opened at $54.71 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $68.84 billion, a P/E ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59. The business has a 50 day simple moving average of $51.24 and a 200-day simple moving average of $56.21. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

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

CVS Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Barclays reduced 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. TD Cowen increased their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada decreased their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.