Insight Inv LLC Sells 1,059 Shares of CVS Health Co. (NYSE:CVS)

Insight Inv LLC decreased its stake in CVS Health Co. (NYSE:CVS) by 7.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,161 shares of the pharmacy operator’s stock after selling 1,059 shares during the period. Insight Inv LLC’s holdings in CVS Health were worth $591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Assetmark Inc. increased its position in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of 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 valued at $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Cullinan Associates Inc. lifted its stake in CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the period. Principal Financial Group Inc. increased its position in 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. boosted its stake in shares of CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.71 on Friday. The company has a market cap of $68.84 billion, a PE ratio of 13.88, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The stock has a fifty day moving average price of $51.24 and a 200 day moving average price of $56.21. 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 posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.86%. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Truist Financial dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Barclays dropped their target price 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 investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.