Addison Advisors LLC Has $183,000 Stake in CVS Health Co. (NYSE:CVS)

Addison Advisors LLC reduced its position in CVS Health Co. (NYSE:CVS) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,313 shares of the pharmacy operator’s stock after selling 298 shares during the period. Addison Advisors LLC’s holdings in CVS Health were worth $183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atticus Wealth Management LLC increased its stake in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC increased its stake in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the period. Coston McIsaac & Partners increased its stake in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after buying an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of CVS Health during the fourth quarter worth $50,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVS. Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Royal Bank of Canada decreased their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Down 0.2 %

Shares of CVS Health stock traded down $0.15 during trading on Friday, reaching $67.18. The stock had a trading volume of 6,396,438 shares, compared to its average volume of 8,376,818. The company has a market capitalization of $84.68 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.89 and a beta of 0.52. The stock has a fifty day moving average price of $74.42 and a two-hundred day moving average price of $73.64. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same period in the previous year, the company posted $1.99 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s payout ratio is presently 41.18%.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

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.