Chevy Chase Trust Holdings LLC Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Chevy Chase Trust Holdings LLC lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753,531 shares of the pharmacy operator’s stock after selling 187,613 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of CVS Health worth $33,826,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC grew 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 worth $748,085,000 after acquiring an additional 3,071,613 shares during the period. ARGA Investment Management LP grew its holdings in CVS Health by 7,567.7% during the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after acquiring an additional 2,371,563 shares during the period. 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 worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health during the third quarter worth $121,987,000. Finally, Pathway Financial Advisers LLC grew its holdings in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVS. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Barclays upped their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Performance

CVS Health stock opened at $65.71 on Friday. The stock’s 50-day moving average is $50.90 and its 200-day moving average is $56.01. The company has a market cap of $82.68 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. 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 Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. Equities analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. CVS Health’s payout ratio is currently 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.