Sonora Investment Management Group LLC Sells 43,179 Shares of CVS Health Co. (NYSE:CVS)

Sonora Investment Management Group LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 89.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,284 shares of the pharmacy operator’s stock after selling 43,179 shares during the quarter. Sonora Investment Management Group LLC’s holdings in CVS Health were worth $237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its position 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. Geode Capital Management LLC grew its position in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC grew its position in shares of CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after purchasing an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position 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. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 0.5 %

CVS opened at $56.53 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The stock’s fifty day simple moving average is $51.27 and its 200 day simple moving average is $56.17. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a market cap 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.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for 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%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 EPS. As a group, research analysts expect that CVS Health Co. will post 5.18 earnings per share for the current year.

CVS Health Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVS shares. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Evercore ISI upped their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Truist Financial reduced their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $68.12.

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.