CVS Health Co. (NYSE:CVS) Shares Sold by tru Independence LLC

tru Independence LLC cut its stake in CVS Health Co. (NYSE:CVS) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,305 shares of the pharmacy operator’s stock after selling 5,542 shares during the period. tru Independence LLC’s holdings in CVS Health were worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Assetmark Inc. grew its holdings in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares during the period. Cullinan Associates Inc. grew its stake in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares during the period. Principal Financial Group Inc. grew its stake in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its stake in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 2.1 %

Shares of CVS Health stock opened at $55.68 on Monday. The company has a market cap of $70.06 billion, a P/E ratio of 14.11, a PEG ratio of 0.80 and a beta of 0.59. The firm has a fifty day moving average of $51.24 and a two-hundred day moving average of $56.20. 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 issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS. On average, analysts forecast that CVS Health Co. will post 5.22 earnings per share 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 paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.78%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVS shares. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.71.

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.