CVS Health Co. (NYSE:CVS) Shares Sold by Albert D Mason Inc.

Albert D Mason Inc. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 38.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,435 shares of the pharmacy operator’s stock after selling 5,990 shares during the period. Albert D Mason Inc.’s holdings in CVS Health were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assetmark Inc. boosted its holdings 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 valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC lifted its position in CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the period. Cullinan Associates Inc. boosted its stake in CVS Health by 43.8% during the 3rd 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 in the last quarter. Principal Financial Group Inc. increased its position in shares of CVS Health by 4.8% during the 3rd 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 period. Finally, Sompo Asset Management Co. Ltd. raised its stake in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after buying an additional 10,453 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen lifted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. Finally, Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Price Performance

Shares of CVS opened at $52.72 on Friday. 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 company has a market capitalization of $66.35 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. The business’s 50-day moving average is $51.39 and its 200-day moving average is $56.36. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

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.