AM Investment Strategies LLC Sells 9,328 Shares of CVS Health Co. (NYSE:CVS)

AM Investment Strategies LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 49.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,422 shares of the pharmacy operator’s stock after selling 9,328 shares during the quarter. AM Investment Strategies LLC’s holdings in CVS Health were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC boosted its position in shares of 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 purchasing an additional 3,071,613 shares in the last quarter. State Street Corp boosted its position in shares of 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 purchasing an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP bought a new position in shares of CVS Health during the third quarter worth $121,987,000. Pathway Financial Advisers LLC boosted its position in shares of 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 purchasing an additional 1,701,331 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in shares of CVS Health by 1,470.2% during the third quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock worth $87,810,000 after purchasing an additional 1,307,531 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVS shares. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Up 1.6 %

Shares of CVS stock opened at $54.71 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. The firm’s 50-day moving average is $51.21 and its 200-day moving average is $56.22. The stock has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company 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%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. Sell-side analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

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

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.