Pathway Financial Advisers LLC Sells 1,706,787 Shares of CVS Health Co. (NYSE:CVS)

Pathway Financial Advisers LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 98.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,556 shares of the pharmacy operator’s stock after selling 1,706,787 shares during the period. Pathway Financial Advisers LLC’s holdings in CVS Health were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth about $25,000. Ridgewood Investments LLC boosted its position 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 buying an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth about $28,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the third quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS stock opened at $63.23 on Thursday. The firm has a market capitalization of $79.57 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. 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’s 50-day simple moving average is $50.71 and its 200-day simple moving average is $55.94. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, equities analysts forecast that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid 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 4.21%. CVS Health’s payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

Several research firms have commented on CVS. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 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 research note on Wednesday. UBS Group lowered their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler lowered their price target 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

CVS Health Company 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.