Perigon Wealth Management LLC Sells 309 Shares of CVS Health Co. (NYSE:CVS)

Perigon Wealth Management LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,982 shares of the pharmacy operator’s stock after selling 309 shares during the period. Perigon Wealth Management LLC’s holdings in CVS Health were worth $897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sound Income Strategies LLC lifted its stake in CVS Health by 7.2% in the third 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 during the period. Hexagon Capital Partners LLC raised its position in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the period. Bruce G. Allen Investments LLC boosted its stake in CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after acquiring an additional 195 shares during the last quarter. Integrated Advisors Network LLC increased its stake in CVS Health by 0.7% in 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. raised its holdings in CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after purchasing an additional 200 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

NYSE CVS opened at $56.84 on Friday. The firm’s fifty day moving average price is $51.28 and its two-hundred day moving average price is $56.17. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm has a market capitalization of $71.53 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted 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 business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $2.21 earnings per share. As a group, research analysts anticipate that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Truist Financial dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company upgraded 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. Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays lowered their price objective on shares of 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 analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Company 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.