CVS Health Co. (NYSE:CVS) Stock Holdings Lessened by Perigon Wealth Management LLC

Perigon Wealth Management LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,982 shares of the pharmacy operator’s stock after selling 309 shares during the quarter. Perigon Wealth Management LLC’s holdings in CVS Health were worth $897,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC increased its position in shares of CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after acquiring an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its position 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 valued at $825,948,000 after acquiring an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 purchasing an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVS has been the topic of a number of research analyst reports. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. Mizuho lowered their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Truist Financial lowered their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Stock Down 0.1 %

Shares of CVS opened at $56.84 on Friday. The business’s 50 day simple moving average is $51.28 and its 200-day simple moving average is $56.17. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a market capitalization of $71.53 billion, a P/E ratio of 14.43, 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 (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company posted $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed 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 4.68%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is 67.51%.

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.