Patrick M Sweeney & Associates Inc. Sells 31,111 Shares of CVS Health Co. (NYSE:CVS)

Patrick M Sweeney & Associates Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 46.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 35,610 shares of the pharmacy operator’s stock after selling 31,111 shares during the period. CVS Health comprises about 1.8% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 17th biggest position. Patrick M Sweeney & Associates Inc.’s holdings in CVS Health were worth $1,599,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CVS. VCI Wealth Management LLC raised its position in CVS Health by 52.5% in the fourth quarter. VCI Wealth Management LLC now owns 30,885 shares of the pharmacy operator’s stock worth $1,386,000 after purchasing an additional 10,630 shares in the last quarter. Canal Insurance CO raised its position in CVS Health by 15.0% in the fourth quarter. Canal Insurance CO now owns 230,000 shares of the pharmacy operator’s stock worth $10,325,000 after purchasing an additional 30,000 shares in the last quarter. CKW Financial Group raised its position in CVS Health by 9.1% in the fourth quarter. CKW Financial Group now owns 3,600 shares of the pharmacy operator’s stock worth $162,000 after purchasing an additional 300 shares in the last quarter. Blue Trust Inc. raised its position in CVS Health by 56.1% in the fourth quarter. Blue Trust Inc. now owns 15,099 shares of the pharmacy operator’s stock worth $678,000 after purchasing an additional 5,426 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of CVS Health by 9.0% during the fourth quarter. Flagship Harbor Advisors LLC now owns 31,456 shares of the pharmacy operator’s stock worth $1,412,000 after buying an additional 2,603 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVS shares. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. 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. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Trading Up 3.0 %

Shares of NYSE CVS opened at $56.20 on Tuesday. The company’s fifty day moving average is $51.24 and its 200-day moving average is $56.20. The stock has a market cap of $70.72 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

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, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. Equities research analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 annualized dividend and a yield of 4.73%. 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.