RMR Wealth Builders lessened its stake in CVS Health Co. (NYSE:CVS – Free Report) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,822 shares of the pharmacy operator’s stock after selling 1,027 shares during the period. RMR Wealth Builders’ holdings in CVS Health were worth $620,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its stake in shares of CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC increased its stake in CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. increased its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. increased its stake in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its stake in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.
CVS Health Price Performance
Shares of NYSE CVS opened at $48.00 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. 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 company has a market capitalization of $60.40 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.85 and a beta of 0.59. The firm has a 50-day moving average of $51.82 and a two-hundred day moving average of $56.62.
CVS Health Announces Dividend
The firm 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 $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.
Analyst Ratings Changes
Several research firms have weighed in on CVS. Evercore ISI boosted 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. Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Truist Financial lowered their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, UBS Group upped their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.
View Our Latest Report on CVS Health
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.
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