CVS Health Co. (NYSE:CVS) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 40.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 690,096 shares of the pharmacy operator’s stock after selling 462,101 shares during the period. Douglas Lane & Associates LLC’s holdings in CVS Health were worth $30,978,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CVS. Assetmark Inc. raised its stake in shares of 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 purchasing an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Cullinan Associates Inc. increased its holdings 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 acquiring an additional 37,395 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of CVS Health by 4.8% during 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 acquiring an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its holdings in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 0.3 %

Shares of NYSE:CVS traded up $0.12 on Wednesday, reaching $45.90. The company had a trading volume of 7,476,451 shares, compared to its average volume of 11,352,654. The stock has a 50-day moving average price of $52.40 and a 200 day moving average price of $56.86. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $81.03. The stock has a market capitalization of $57.76 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. On average, equities analysts expect that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVS shares. Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial lowered their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Finally, Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.71.

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.