MTM Investment Management LLC Sells 299 Shares of CVS Health Co. (NYSE:CVS)

MTM Investment Management LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,541 shares of the pharmacy operator’s stock after selling 299 shares during the quarter. MTM Investment Management LLC’s holdings in CVS Health were worth $428,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in 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 in the last quarter. Geode Capital Management LLC lifted its position in CVS Health by 1.8% in 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 acquiring an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its position in 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. increased 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 valued at $767,681,000 after buying an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TD Cowen increased their price objective 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. UBS Group decreased their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler decreased 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 note on Monday, November 25th. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $68.89.

CVS Health Stock Performance

NYSE CVS opened at $63.23 on Thursday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. 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 company has a market capitalization of $79.57 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.60 and a beta of 0.61. The company has a fifty day moving average of $50.61 and a 200-day moving average of $55.92.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, equities research analysts predict that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is presently 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.