Nisa Investment Advisors LLC Trims Stake in CVS Health Co. (NYSE:CVS)

Nisa Investment Advisors LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,517 shares of the pharmacy operator’s stock after selling 9,507 shares during the period. Nisa Investment Advisors LLC’s holdings in CVS Health were worth $13,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its holdings in CVS Health by 3.6% during 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 during the period. Geode Capital Management LLC lifted its position in shares of CVS Health by 1.8% during 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 buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of CVS Health by 1.5% during 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 during the period. Charles Schwab Investment Management Inc. raised its stake in CVS Health by 2.6% during 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 acquiring an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings 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 valued at $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVS shares. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler cut their target price 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 price target 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. Finally, Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Up 1.7 %

NYSE CVS opened at $53.87 on Friday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a market capitalization of $67.79 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.80 and a beta of 0.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average of $51.23 and a two-hundred day moving average of $56.24.

CVS Health (NYSE:CVS) last issued 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. 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm posted $2.21 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed 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 4.94%. The ex-dividend date of this dividend is Thursday, January 23rd. 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.