Triangle Securities Wealth Management Has $452,000 Stake in CVS Health Co. (NYSE:CVS)

Triangle Securities Wealth Management lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 29.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,060 shares of the pharmacy operator’s stock after selling 4,268 shares during the quarter. Triangle Securities Wealth Management’s holdings in CVS Health were worth $452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in CVS Health by 17.1% in the 2nd quarter. Intech Investment Management LLC now owns 56,601 shares of the pharmacy operator’s stock valued at $3,343,000 after buying an additional 8,261 shares during the period. AE Wealth Management LLC raised its position in CVS Health by 12.3% during the second quarter. AE Wealth Management LLC now owns 56,116 shares of the pharmacy operator’s stock valued at $3,314,000 after purchasing an additional 6,151 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in CVS Health by 33.3% during the second quarter. Summit Trail Advisors LLC now owns 14,282 shares of the pharmacy operator’s stock worth $843,000 after purchasing an additional 3,564 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of CVS Health by 201.2% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 9,121 shares of the pharmacy operator’s stock valued at $539,000 after purchasing an additional 6,093 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of CVS Health by 9.0% during the 2nd quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock worth $12,396,000 after buying an additional 17,281 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE CVS opened at $52.72 on Monday. 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 company has a market capitalization of $66.35 billion, a PE ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. The firm has a fifty day simple moving average of $51.34 and a 200 day simple moving average of $56.32. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate 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 was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 EPS. On average, sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.05%. CVS Health’s payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded 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. Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.71.

About CVS Health

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.