Eads & Heald Wealth Management Sells 3,383 Shares of CVS Health Co. (NYSE:CVS)

Eads & Heald Wealth Management reduced its position in shares of CVS Health Co. (NYSE:CVS) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,251 shares of the pharmacy operator’s stock after selling 3,383 shares during the period. Eads & Heald Wealth Management’s holdings in CVS Health were worth $505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter worth about $25,000. Ridgewood Investments LLC increased its position 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 worth $28,000 after purchasing an additional 450 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC purchased a new position in CVS Health in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.0 %

CVS opened at $53.14 on Wednesday. The firm has a market capitalization of $66.87 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.79 and a beta of 0.59. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The business has a 50 day simple moving average of $51.27 and a two-hundred day simple moving average of $56.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during 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 revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. Analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 dividend yield of 5.01%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays reduced 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, StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.