Newman Dignan & Sheerar Inc. Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Newman Dignan & Sheerar Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 8.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,717 shares of the pharmacy operator’s stock after selling 896 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in CVS Health were worth $436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the third quarter valued at about $25,000. Ridgewood Investments LLC increased its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter valued at about $28,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the third quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the third quarter valued at about $31,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler dropped their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. UBS Group dropped their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, TD Cowen boosted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Stock Down 1.0 %

CVS opened at $65.71 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 firm has a 50 day moving average price of $51.11 and a 200-day moving average price of $56.08. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Equities research analysts forecast that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. CVS Health’s dividend payout ratio is currently 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.