CVS Health Co. (NYSE:CVS) Stock Position Trimmed by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,854 shares of the pharmacy operator’s stock after selling 17,310 shares during the quarter. Everence Capital Management Inc.’s holdings in CVS Health were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp grew its stake in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC increased its stake in CVS Health by 1.8% during 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 buying an additional 461,569 shares during the period. Pzena Investment Management LLC lifted its stake 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 worth $825,948,000 after acquiring an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after acquiring an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS stock opened at $45.77 on Friday. The firm has a market cap of $57.60 billion, a P/E ratio of 11.62, a PEG ratio of 0.85 and a beta of 0.54. 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 fifty-two week low of $43.56 and a fifty-two week high of $83.25. The stock’s 50-day moving average is $53.05 and its two-hundred day moving average is $57.21.

CVS Health (NYSE:CVS) last posted 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 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 earnings per share. Analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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 issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.81%. CVS Health’s dividend payout ratio is 67.51%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. 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 report on Thursday, October 24th. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Truist Financial restated a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $69.12.

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.