Exchange Traded Concepts LLC Increases Stake in CVS Health Co. (NYSE:CVS)

Exchange Traded Concepts LLC grew its holdings in CVS Health Co. (NYSE:CVSFree Report) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,514 shares of the pharmacy operator’s stock after acquiring an additional 2,661 shares during the period. Exchange Traded Concepts LLC’s holdings in CVS Health were worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter worth $25,000. Ridgewood Investments LLC increased its stake 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 worth $28,000 after buying an additional 450 shares during the period. Livelsberger Financial Advisory acquired a new stake in CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the third quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE CVS opened at $57.00 on Thursday. 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 company has a market cap of $71.73 billion, a PE ratio of 14.47, a P/E/G ratio of 0.80 and a beta of 0.59. The stock has a fifty day moving average price of $51.27 and a 200 day moving average price of $56.18. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upgraded 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. TD Cowen upped their price target 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 cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Mizuho lowered their target price 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. 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. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $68.12.

View Our Latest Stock Analysis on CVS

About CVS Health

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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