KBC Group NV Sells 447,283 Shares of CVS Health Co. (NYSE:CVS)

KBC Group NV lowered its holdings in CVS Health Co. (NYSE:CVS) by 21.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,655,490 shares of the pharmacy operator’s stock after selling 447,283 shares during the quarter. KBC Group NV’s holdings in CVS Health were worth $74,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC raised its position in 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 worth $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp raised its holdings in shares of CVS Health by 3.6% during the third 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 last quarter. TOMS Capital Investment Management LP bought a new position in CVS Health during the third quarter valued at approximately $121,987,000. Pathway Financial Advisers LLC boosted 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 purchasing an additional 1,701,331 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its position in CVS Health by 1,470.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock worth $87,810,000 after purchasing an additional 1,307,531 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 1.6 %

CVS stock opened at $54.71 on Monday. The company has a market capitalization of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59. 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 business has a 50 day simple moving average of $51.24 and a two-hundred day simple moving average of $56.21.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the company posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts anticipate that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Truist Financial dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Barclays dropped their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.71.

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.