Perkins Coie Trust Co Sells 548 Shares of CVS Health Co. (NYSE:CVS)

Perkins Coie Trust Co decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 36.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 969 shares of the pharmacy operator’s stock after selling 548 shares during the quarter. Perkins Coie Trust Co’s holdings in CVS Health were worth $43,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the third quarter worth $25,000. Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the third quarter worth approximately $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $32,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada lowered their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Truist Financial cut their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Mizuho lowered their target price on 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 issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

CVS opened at $52.72 on Friday. The company has a market cap of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. 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’s 50-day moving average price is $51.34 and its 200-day moving average price is $56.34. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $2.21 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

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.