MTM Investment Management LLC Trims Stake in CVS Health Co. (NYSE:CVS)

MTM Investment Management LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,541 shares of the pharmacy operator’s stock after selling 299 shares during the quarter. MTM Investment Management LLC’s holdings in CVS Health were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Stanley Laman Group Ltd. increased its position in shares of CVS Health by 1,366.8% during the fourth quarter. Stanley Laman Group Ltd. now owns 80,672 shares of the pharmacy operator’s stock valued at $3,621,000 after buying an additional 75,172 shares during the period. Van ECK Associates Corp increased its position in shares of CVS Health by 24.8% during the fourth quarter. Van ECK Associates Corp now owns 644,326 shares of the pharmacy operator’s stock valued at $28,924,000 after buying an additional 128,231 shares during the period. Legato Capital Management LLC increased its position in shares of CVS Health by 9.7% during the fourth quarter. Legato Capital Management LLC now owns 27,914 shares of the pharmacy operator’s stock valued at $1,253,000 after buying an additional 2,470 shares during the period. Kentucky Trust Co bought a new stake in CVS Health during the fourth quarter worth about $696,000. Finally, Polaris Capital Management LLC boosted its stake in CVS Health by 7.6% during the fourth quarter. Polaris Capital Management LLC now owns 489,500 shares of the pharmacy operator’s stock worth $21,974,000 after acquiring an additional 34,700 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVS shares. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group dropped their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Wolfe Research upped their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.89.

CVS Health Trading Up 15.0 %

Shares of CVS opened at $63.23 on Thursday. The firm has a market cap of $79.57 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. 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 Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a 50 day simple moving average of $50.61 and a two-hundred day simple moving average of $55.92.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.21%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

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.