Smith Salley Wealth Management Lowers Position in CVS Health Co. (NYSE:CVS)

Smith Salley Wealth Management lessened its stake in CVS Health Co. (NYSE:CVS) by 11.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,854 shares of the pharmacy operator’s stock after selling 2,184 shares during the quarter. Smith Salley Wealth Management’s holdings in CVS Health were worth $757,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Sound Income Strategies LLC raised its position 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 worth $151,000 after acquiring an additional 162 shares in the last quarter. Hexagon Capital Partners LLC raised its position in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after acquiring an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC raised 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 acquiring an additional 195 shares in the last quarter. 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 in the last quarter. Finally, Widmann Financial Services Inc. raised its position 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 acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several research reports. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler lowered their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Up 1.5 %

CVS opened at $52.72 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $66.35 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. The business has a 50-day moving average of $51.34 and a two-hundred day moving average of $56.32. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last posted 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. The company 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%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. On average, research analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The company 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 $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

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.