Newman Dignan & Sheerar Inc. Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Newman Dignan & Sheerar Inc. reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,717 shares of the pharmacy operator’s stock after selling 896 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in CVS Health were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Integrated Advisors Network LLC lifted its stake in shares of CVS Health by 0.7% during the 3rd 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 in the last quarter. Widmann Financial Services Inc. lifted its stake in shares of CVS Health by 1.8% during the 3rd 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. DT Investment Partners LLC lifted its stake in shares of CVS Health by 7.8% during the 3rd quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock valued at $175,000 after buying an additional 202 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after buying an additional 204 shares in the last quarter. Finally, United Asset Strategies Inc. lifted its stake in CVS Health by 2.4% in the 3rd quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator’s stock worth $580,000 after purchasing an additional 212 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVS shares. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Wolfe Research increased their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.28.

CVS Health Price Performance

Shares of NYSE:CVS opened at $65.71 on Friday. The stock has a market cap of $82.68 billion, a PE ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. The company’s fifty day moving average is $51.11 and its 200 day moving average is $56.08. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Research analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 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.