Alpha Omega Wealth Management LLC Has $5.43 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Alpha Omega Wealth Management LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 21.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,044 shares of the pharmacy operator’s stock after selling 32,643 shares during the quarter. CVS Health accounts for about 1.0% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. Alpha Omega Wealth Management LLC’s holdings in CVS Health were worth $5,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC bought a new position in shares of CVS Health during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CVS shares. TD Cowen lifted their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Price Performance

CVS stock opened at $56.53 on Friday. The company has a market capitalization of $71.13 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59. The company’s fifty day moving average price is $51.24 and its 200-day moving average price is $56.17. 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.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that CVS Health Co. will post 5.18 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.