Westside Investment Management Inc. Sells 15,434 Shares of CVS Health Co. (NYSE:CVS)

Westside Investment Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 23.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,083 shares of the pharmacy operator’s stock after selling 15,434 shares during the quarter. Westside Investment Management Inc.’s holdings in CVS Health were worth $2,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of CVS Health by 9.0% during the second quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock worth $12,396,000 after acquiring an additional 17,281 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in CVS Health by 9,318.2% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 9,324 shares of the pharmacy operator’s stock worth $551,000 after purchasing an additional 9,225 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of CVS Health by 12.6% in the second quarter. EverSource Wealth Advisors LLC now owns 15,618 shares of the pharmacy operator’s stock worth $942,000 after purchasing an additional 1,753 shares during the last quarter. Lombard Odier Asset Management Europe Ltd boosted its position in shares of CVS Health by 29.9% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 30,099 shares of the pharmacy operator’s stock valued at $1,778,000 after buying an additional 6,927 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in CVS Health by 2.4% during the second quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator’s stock worth $143,890,000 after buying an additional 57,214 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CVS shares. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Finally, Truist Financial dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Price Performance

CVS opened at $52.63 on Wednesday. The company has a market capitalization of $66.23 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.79 and a beta of 0.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $51.26 and a 200-day moving average price of $56.26. 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 earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 5.22 EPS for the current 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 issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is presently 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.