First City Capital Management Inc. Reduces Stock Position in CVS Health Co. (NYSE:CVS)

First City Capital Management Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 19.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,797 shares of the pharmacy operator’s stock after selling 1,183 shares during the period. First City Capital Management Inc.’s holdings in CVS Health were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVS. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in shares of CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock worth $56,000 after purchasing an additional 189 shares during the period. EagleClaw Capital Managment LLC lifted its holdings in CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC lifted its holdings in CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after buying an additional 204 shares during the period. Finally, Angeles Investment Advisors LLC increased its stake in CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock valued at $256,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays set a $79.00 target price on shares of CVS Health and gave the stock an “overweight” rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Truist Financial upped their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Piper Sandler upped their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Robert W. Baird upped their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Stock Performance

NYSE CVS opened at $63.61 on Friday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $80.47 billion, a PE ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56. The company’s 50 day simple moving average is $65.21 and its two-hundred day simple moving average is $59.90.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

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.