CVS Health Co. (NYSE:CVS) Position Lessened by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,430 shares of the pharmacy operator’s stock after selling 804 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in CVS Health were worth $109,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC raised its position 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 acquired a new stake in CVS Health during the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd 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. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

CVS opened at $51.54 on Tuesday. The company has a fifty day simple moving average of $51.76 and a 200 day simple moving average of $56.49. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $64.86 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays decreased their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

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.