Parkside Investments LLC Sells 56,824 Shares of CVS Health Co. (NYSE:CVS)

Parkside Investments LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 50.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,677 shares of the pharmacy operator’s stock after selling 56,824 shares during the quarter. Parkside Investments LLC’s holdings in CVS Health were worth $2,499,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVS. The Manufacturers Life Insurance Company increased its position in CVS Health by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,017,106 shares of the pharmacy operator’s stock valued at $60,070,000 after buying an additional 31,966 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of CVS Health by 71.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 247 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC raised its position in shares of CVS Health by 1.8% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 50,384 shares of the pharmacy operator’s stock worth $2,976,000 after purchasing an additional 874 shares during the last quarter. Ascent Group LLC boosted its stake in CVS Health by 14.6% in the 2nd quarter. Ascent Group LLC now owns 20,188 shares of the pharmacy operator’s stock worth $1,192,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in CVS Health during the 2nd quarter valued at about $795,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $54.71 on Monday. The stock’s fifty day moving average is $51.24 and its 200 day moving average is $56.20. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a market cap of $68.84 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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 for 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 quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. Sell-side analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

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 given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.86%. CVS Health’s payout ratio is 67.51%.

Analyst Ratings Changes

CVS has been the topic of several analyst reports. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. One investment 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’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

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.