tru Independence LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

tru Independence LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,305 shares of the pharmacy operator’s stock after selling 5,542 shares during the period. tru Independence LLC’s holdings in CVS Health were worth $3,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVS. State Street Corp grew its holdings 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 valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in CVS Health by 34.8% during 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 acquiring an additional 3,071,613 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 2.1 %

CVS stock opened at $55.68 on Monday. The firm has a market cap of $70.06 billion, a PE ratio of 14.11, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm’s fifty day moving average is $51.24 and its 200 day moving average is $56.20. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last released its quarterly 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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

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 paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVS shares. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One 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. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

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.