CVS Health Co. (NYSE:CVS) Stake Reduced by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. cut its holdings in CVS Health Co. (NYSE:CVS) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,610 shares of the pharmacy operator’s stock after selling 31,111 shares during the quarter. CVS Health comprises about 1.8% of Patrick M Sweeney & Associates Inc.’s investment portfolio, making the stock its 17th biggest holding. Patrick M Sweeney & Associates Inc.’s holdings in CVS Health were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter valued at about $25,000. Ridgewood Investments LLC lifted its position in shares of 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 acquiring an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in CVS Health during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter worth $32,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 3.0 %

CVS stock opened at $56.20 on Tuesday. 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 Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a 50-day moving average of $51.24 and a two-hundred day moving average of $56.20. The stock 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 (NYSE:CVS) last released its quarterly 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 company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays decreased their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. One investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

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.