CVS Health Co. (NYSE:CVS) Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY reduced its stake in CVS Health Co. (NYSE:CVS) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,175 shares of the pharmacy operator’s stock after selling 986 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in CVS Health were worth $277,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC raised its holdings in shares of 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 buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter valued at 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. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 3.0 %

NYSE CVS opened at $56.20 on Tuesday. The firm’s 50 day moving average price is $51.24 and its two-hundred day moving average price is $56.20. 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 twelve month low of $43.56 and a twelve month high of $80.75. The stock has a market cap of $70.72 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS 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 period in the previous year, the company posted $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. TD Cowen boosted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Truist Financial dropped their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One equities research 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, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

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.