Asset Management One Co. Ltd. Cuts Holdings in CVS Health Co. (NYSE:CVS)

Asset Management One Co. Ltd. cut its position in shares of CVS Health Co. (NYSE:CVS) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 478,461 shares of the pharmacy operator’s stock after selling 35,632 shares during the period. Asset Management One Co. Ltd.’s holdings in CVS Health were worth $21,287,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC increased its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter valued at $28,000. Livelsberger Financial Advisory purchased a new stake in CVS Health during the 3rd quarter worth $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in CVS Health in the 3rd quarter valued at $31,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVS. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada decreased their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.28.

CVS Health Trading Down 1.0 %

CVS Health stock opened at $65.71 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm’s 50-day moving average is $51.11 and its 200-day moving average is $56.08. The company has a market cap of $82.68 billion, a P/E ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, equities analysts expect 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 given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. CVS Health’s dividend payout ratio 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.