Horizon Bancorp Inc. IN Has $109,000 Stock Position in CVS Health Co. (NYSE:CVS)

Horizon Bancorp Inc. IN trimmed its holdings in CVS Health Co. (NYSE:CVS) by 24.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,430 shares of the pharmacy operator’s stock after selling 804 shares during the period. Horizon Bancorp Inc. IN’s holdings in CVS Health were worth $109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. American Century Companies Inc. grew its stake in CVS Health by 3.0% in the 2nd quarter. American Century Companies Inc. now owns 968,121 shares of the pharmacy operator’s stock valued at $57,177,000 after buying an additional 28,250 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in shares of CVS Health by 31.8% in the second quarter. Thoroughbred Financial Services LLC now owns 4,007 shares of the pharmacy operator’s stock valued at $236,000 after purchasing an additional 967 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new stake in CVS Health during the 2nd quarter worth approximately $40,000. Oldfield Partners LLP grew its holdings in CVS Health by 37.8% in the 2nd quarter. Oldfield Partners LLP now owns 6,200 shares of the pharmacy operator’s stock valued at $366,000 after buying an additional 1,700 shares in the last quarter. Finally, Waycross Partners LLC increased its position in CVS Health by 11.3% during the 2nd quarter. Waycross Partners LLC now owns 207,539 shares of the pharmacy operator’s stock worth $12,257,000 after buying an additional 21,135 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CVS. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada lowered their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Up 7.4 %

CVS opened at $51.54 on Tuesday. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company’s 50-day moving average is $51.76 and its 200 day moving average is $56.49. The firm has a market capitalization of $64.86 billion, a PE ratio of 13.08, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.