CVS Health Co. (NYSE:CVS) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 39.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,964 shares of the pharmacy operator’s stock after selling 7,097 shares during the period. Focus Financial Network Inc.’s holdings in CVS Health were worth $492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. AMF Tjanstepension AB grew its stake in CVS Health by 124.1% during the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after buying an additional 34,198 shares during the period. Exchange Traded Concepts LLC grew its stake in CVS Health by 61.9% during the third quarter. Exchange Traded Concepts LLC now owns 14,853 shares of the pharmacy operator’s stock worth $934,000 after buying an additional 5,679 shares during the period. Procyon Advisors LLC purchased a new position in shares of CVS Health in the third quarter valued at $202,000. Creative Planning boosted its stake in shares of CVS Health by 23.5% in the third quarter. Creative Planning now owns 250,891 shares of the pharmacy operator’s stock valued at $15,776,000 after purchasing an additional 47,737 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of CVS Health by 3.0% in the third quarter. Sumitomo Life Insurance Co. now owns 17,692 shares of the pharmacy operator’s stock valued at $1,112,000 after purchasing an additional 516 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 4.9 %

CVS stock opened at $66.35 on Friday. 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 Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The firm’s 50-day simple moving average is $50.71 and its 200 day simple moving average is $55.94. The stock has a market cap of $83.49 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, sell-side analysts predict that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVS. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler reduced their price objective 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. Royal Bank of Canada reduced their price objective 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. Wolfe Research increased their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.28.

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.