SNS Financial Group LLC Reduces Stake in CVS Health Co. (NYSE:CVS)

SNS Financial Group LLC reduced its position in CVS Health Co. (NYSE:CVS) by 17.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,172 shares of the pharmacy operator’s stock after selling 2,613 shares during the period. SNS Financial Group LLC’s holdings in CVS Health were worth $546,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter worth $32,000. Ridgewood Investments LLC boosted 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 worth $28,000 after purchasing an additional 450 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $28,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.2 %

Shares of CVS Health stock opened at $66.35 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $51.80 and a 200 day moving average price of $56.12. 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 $83.65 billion, a P/E ratio of 18.13, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, sell-side analysts forecast that CVS Health Co. will post 5.92 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. CVS Health’s payout ratio is currently 72.68%.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler reduced 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, UBS Group reduced their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.00.

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.