CVS Health Co. (NYSE:CVS) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,960 shares of the pharmacy operator’s stock after selling 35,746 shares during the quarter. OLD National Bancorp IN’s holdings in CVS Health were worth $11,131,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. acquired a new position in CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in CVS Health in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter valued at $32,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS stock opened at $57.00 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $71.73 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.80 and a beta of 0.59. The business’s 50-day moving average is $51.27 and its two-hundred day moving average is $56.18. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVS. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Truist Financial cut 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. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI raised their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price 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.