Smith Salley Wealth Management Sells 2,184 Shares of CVS Health Co. (NYSE:CVS)

Smith Salley Wealth Management lowered its position in CVS Health Co. (NYSE:CVS) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,854 shares of the pharmacy operator’s stock after selling 2,184 shares during the period. Smith Salley Wealth Management’s holdings in CVS Health were worth $757,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC boosted 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 worth $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory acquired a new position in CVS Health in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter worth $32,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $52.72 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm’s fifty day moving average is $51.34 and its 200 day moving average is $56.32. The firm has a market cap 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.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. Research analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research analyst reports. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler reduced their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. One 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.71.

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.