Pinnacle Bancorp Inc. Sells 1,438 Shares of CVS Health Co. (NYSE:CVS)

Pinnacle Bancorp Inc. cut its position in shares of CVS Health Co. (NYSE:CVS) by 42.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,932 shares of the pharmacy operator’s stock after selling 1,438 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in CVS Health were worth $87,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CVS. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of CVS Health by 16.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,101 shares of the pharmacy operator’s stock valued at $409,000 after buying an additional 1,296 shares during the period. Park Avenue Securities LLC boosted its holdings in CVS Health by 5.8% during the 4th quarter. Park Avenue Securities LLC now owns 24,646 shares of the pharmacy operator’s stock valued at $1,106,000 after acquiring an additional 1,359 shares during the period. Oak Thistle LLC purchased a new stake in CVS Health in the fourth quarter worth $837,000. Mendota Financial Group LLC lifted its position in shares of CVS Health by 32,600.0% during the fourth quarter. Mendota Financial Group LLC now owns 981 shares of the pharmacy operator’s stock worth $44,000 after purchasing an additional 978 shares during the last quarter. Finally, Grandview Asset Management LLC purchased a new stake in shares of CVS Health during the fourth quarter valued at $311,000. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $66.00 in a report on Monday, November 18th. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada cut their price target 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. Finally, Truist Financial lowered their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. One research 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, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Price Performance

NYSE CVS opened at $52.01 on Friday. The firm’s fifty day simple moving average is $51.49 and its two-hundred day simple moving average is $56.39. The firm has a market capitalization of $65.44 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.72 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last announced its 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 company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 EPS. Analysts forecast that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 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.