Brooklyn Investment Group Has $44,000 Stake in CVS Health Co. (NYSE:CVS)

Brooklyn Investment Group lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 82.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 983 shares of the pharmacy operator’s stock after selling 4,546 shares during the period. Brooklyn Investment Group’s holdings in CVS Health were worth $44,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC grew its stake in CVS Health by 255.7% in 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 during the last quarter. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the third quarter valued at about $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. 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 report on Monday, November 25th. Finally, Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One equities 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Price Performance

Shares of CVS Health stock opened at $52.72 on Monday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The firm’s 50-day moving average price is $51.34 and its two-hundred day moving average price is $56.32. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $66.35 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm 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 business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.21 EPS. On average, equities analysts predict that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.05%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is presently 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.