Union Savings Bank Lowers Holdings in CVS Health Co. (NYSE:CVS)

Union Savings Bank reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 44.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,736 shares of the pharmacy operator’s stock after selling 2,157 shares during the quarter. Union Savings Bank’s holdings in CVS Health were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC increased its stake in shares of CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the period. Hexagon Capital Partners LLC boosted its stake in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after buying an additional 195 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after buying an additional 200 shares during the period. Finally, Widmann Financial Services Inc. boosted its stake 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 buying an additional 200 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.5 %

CVS stock opened at $52.72 on Monday. The business has a 50-day moving average of $51.34 and a 200-day moving average of $56.32. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

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 analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. On average, sell-side analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal 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. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.05%. CVS Health’s payout ratio is 67.51%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVS. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, December 3rd. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Truist Financial cut their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

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.