CVS Health Co. (NYSE:CVS) Shares Sold by Sawyer & Company Inc

Sawyer & Company Inc lessened its stake in CVS Health Co. (NYSE:CVS) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,637 shares of the pharmacy operator’s stock after selling 320 shares during the period. Sawyer & Company Inc’s holdings in CVS Health were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its position 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 buying an additional 3,071,613 shares during the period. State Street Corp increased its holdings 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 acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the 3rd quarter valued at $121,987,000. Pathway Financial Advisers LLC boosted its stake in CVS Health by 5,864.2% during the 3rd 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 period. Finally, AQR Capital Management LLC grew its position in CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Mizuho dropped their target price on 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 decreased their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Performance

CVS opened at $52.15 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market cap of $65.63 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.72 and a beta of 0.59. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The stock’s 50 day simple moving average is $51.68 and its 200 day simple moving average is $56.44.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 earnings per share. As a group, equities 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. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.10%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.