CVS Health Co. (NYSE:CVS) Position Reduced by RMR Wealth Builders

RMR Wealth Builders cut its position in shares of CVS Health Co. (NYSE:CVS) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,822 shares of the pharmacy operator’s stock after selling 1,027 shares during the period. RMR Wealth Builders’ holdings in CVS Health were worth $620,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the period. State Street Corp increased its holdings in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in shares of CVS Health in the 3rd quarter valued at about $121,987,000. Pathway Financial Advisers LLC increased its holdings in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after buying an additional 1,327,855 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CVS shares. Truist Financial dropped their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Evercore ISI increased their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Up 4.3 %

Shares of CVS stock opened at $48.00 on Friday. The stock has a market cap of $60.40 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a fifty day moving average price of $51.82 and a 200 day moving average price of $56.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $2.21 earnings per share. Analysts predict that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.54%. CVS Health’s dividend payout ratio (DPR) is currently 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.