VeraBank N.A. Decreases Stake in CVS Health Co. (NYSE:CVS)

VeraBank N.A. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,197 shares of the pharmacy operator’s stock after selling 1,814 shares during the quarter. VeraBank N.A.’s holdings in CVS Health were worth $278,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in CVS Health by 3.6% in the 3rd 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 last quarter. Geode Capital Management LLC boosted its stake in CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after acquiring an additional 461,569 shares in the last quarter. Pzena Investment Management LLC grew its holdings in CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after purchasing an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% in 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 last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.0 %

CVS opened at $65.71 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. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.60 and a beta of 0.61. The business has a fifty day moving average price of $51.11 and a 200 day moving average price of $56.08.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

Several analysts have commented on CVS shares. Barclays increased their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler dropped their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $75.00 in a report on Thursday. Finally, Truist Financial increased their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $70.28.

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.