Grant GrossMendelsohn LLC Sells 2,010 Shares of CVS Health Co. (NYSE:CVS)

Grant GrossMendelsohn LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 26.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,727 shares of the pharmacy operator’s stock after selling 2,010 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in CVS Health were worth $257,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC boosted its stake in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after buying an additional 162 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of CVS Health by 3.5% during the 3rd 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 during the last quarter. Bruce G. Allen Investments LLC grew its position in CVS Health by 13.1% during the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after buying an additional 195 shares during the period. Integrated Advisors Network LLC raised its position 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 worth $1,737,000 after acquiring an additional 200 shares during the period. Finally, Widmann Financial Services Inc. grew its holdings 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 period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $52.72 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average of $51.39 and a 200 day moving average of $56.36. The firm has a market capitalization of $66.35 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.72 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.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

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 given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.05%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. Truist Financial cut their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.71.

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.