Salomon & Ludwin LLC Has $70,000 Position in CVS Health Co. (NYSE:CVS)

Salomon & Ludwin LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,561 shares of the pharmacy operator’s stock after selling 327 shares during the period. Salomon & Ludwin LLC’s holdings in CVS Health were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC raised its holdings in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health during the fourth quarter worth about $28,000. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter worth about $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter worth about $31,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 1.0 %

Shares of NYSE:CVS opened at $65.71 on Friday. The business’s 50 day simple moving average is $50.90 and its 200 day simple moving average is $56.01. The company has a market capitalization of $82.68 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, research analysts anticipate that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research analyst reports. Wolfe Research upped their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays upped their price objective on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.28.

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.