CVS Health Co. (NYSE:CVS) Stock Position Lowered by Pine Haven Investment Counsel Inc

Pine Haven Investment Counsel Inc lowered its position in shares of CVS Health Co. (NYSE:CVS) by 11.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,207 shares of the pharmacy operator’s stock after selling 1,074 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in CVS Health were worth $368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC increased its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health in the 3rd quarter worth $32,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

CVS stock opened at $52.72 on Monday. The firm has a 50 day moving average of $51.34 and a two-hundred day moving average of $56.32. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a market capitalization of $66.35 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. 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 (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. UBS Group lifted their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen upped 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. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.