Westside Investment Management Inc. Sells 15,434 Shares of CVS Health Co. (NYSE:CVS)

Westside Investment Management Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 23.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,083 shares of the pharmacy operator’s stock after selling 15,434 shares during the quarter. Westside Investment Management Inc.’s holdings in CVS Health were worth $2,203,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter worth $32,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial reduced their target price 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Price Performance

Shares of CVS stock opened at $52.63 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The firm has a market cap of $66.23 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.79 and a beta of 0.59. The business’s 50 day moving average price is $51.26 and its 200-day moving average price is $56.26.

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 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 business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

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 issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.05%. CVS Health’s dividend payout ratio (DPR) 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.