Parkside Investments LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Parkside Investments LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 50.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 55,677 shares of the pharmacy operator’s stock after selling 56,824 shares during the period. Parkside Investments LLC’s holdings in CVS Health were worth $2,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Sound Income Strategies LLC grew its holdings in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in CVS Health by 13.1% in the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after purchasing an additional 195 shares during the last quarter. Integrated Advisors Network LLC raised its stake in CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares in the last quarter. Finally, Widmann Financial Services Inc. lifted its position in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Barclays decreased their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 1.6 %

Shares of NYSE:CVS opened at $54.71 on Monday. The business’s 50 day moving average is $51.24 and its 200 day moving average is $56.20. The stock has a market cap of $68.84 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 52-week low of $43.56 and a 52-week 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.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. CVS Health’s dividend payout ratio is presently 67.51%.

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.