Livforsakringsbolaget Skandia Omsesidigt Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 83.7% during the fourth quarter, HoldingsChannel reports. The fund owned 9,882 shares of the pharmacy operator’s stock after selling 50,671 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CVS Health were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the 3rd quarter worth about $25,000. Ridgewood Investments LLC lifted 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 worth $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $32,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 0.5 %

NYSE CVS opened at $53.95 on Friday. The business’s 50-day moving average is $50.90 and its 200 day moving average is $56.02. The stock has a market capitalization of $67.90 billion, a PE ratio of 13.69, a PEG ratio of 0.62 and a beta of 0.61. 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 Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, December 3rd. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $68.12.

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.