Novare Capital Management LLC Sells 36,313 Shares of CVS Health Co. (NYSE:CVS)

Novare Capital Management LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 38.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 57,919 shares of the pharmacy operator’s stock after selling 36,313 shares during the quarter. Novare Capital Management LLC’s holdings in CVS Health were worth $2,600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC raised its position 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 valued at $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore ISI raised 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. Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial dropped their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Up 1.6 %

NYSE CVS opened at $54.71 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average is $51.24 and its two-hundred day moving average is $56.21. The company has a market capitalization of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for 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 business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 earnings per share. Equities analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. 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 4.86%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.