RNC Capital Management LLC Sells 317,433 Shares of CVS Health Co. (NYSE:CVS)

RNC Capital Management LLC decreased its position in CVS Health Co. (NYSE:CVS) by 36.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 562,294 shares of the pharmacy operator’s stock after selling 317,433 shares during the quarter. RNC Capital Management LLC’s holdings in CVS Health were worth $25,241,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the 3rd quarter worth about $25,000. Ridgewood Investments LLC grew its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the 3rd quarter worth about $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the 3rd quarter worth about $32,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE CVS opened at $54.20 on Friday. CVS Health Co. has a 12-month low of $43.56 and a 12-month 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. The firm’s 50 day moving average is $51.02 and its 200-day moving average is $56.04. The company has a market capitalization of $68.21 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating 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 business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.91%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft raised 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. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, TD Cowen increased their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health 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.