Bard Financial Services Inc. Has $6.37 Million Stake in CVS Health Co. (NYSE:CVS)

Bard Financial Services Inc. lessened its position in shares of CVS Health Co. (NYSE:CVS) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,857 shares of the pharmacy operator’s stock after selling 15,700 shares during the period. Bard Financial Services Inc.’s holdings in CVS Health were worth $6,368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the third quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health in the 3rd quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock traded up $0.51 during midday trading on Monday, hitting $46.28. The company’s stock had a trading volume of 10,417,791 shares, compared to its average volume of 10,927,900. The company has a 50-day moving average price of $52.84 and a two-hundred day moving average price of $57.08. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $83.25. The company has a market cap of $58.24 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, sell-side analysts predict that CVS Health Co. will post 5.32 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. Investors of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.75%. CVS Health’s dividend payout ratio is 67.51%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVS. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Finally, Piper Sandler cut their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. One equities research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.71.

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.