CVS Health Co. (NYSE:CVS) Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY decreased its stake in CVS Health Co. (NYSE:CVS) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,175 shares of the pharmacy operator’s stock after selling 986 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in CVS Health were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC raised its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 3.0 %

NYSE:CVS opened at $56.20 on Tuesday. The company has a market capitalization of $70.72 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a 50-day simple moving average of $51.24 and a 200 day simple moving average of $56.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.73%. CVS Health’s payout ratio is currently 67.51%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CVS shares. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen increased 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, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

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.