CVS Health Co. (NYSE:CVS) Stake Lowered by Tobam

Tobam decreased its position in shares of CVS Health Co. (NYSE:CVS) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,348 shares of the pharmacy operator’s stock after selling 1,085 shares during the period. Tobam’s holdings in CVS Health were worth $195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in CVS Health in the third quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health during the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC bought a new position in shares of CVS Health during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $53.95 on Friday. The firm has a market capitalization of $67.90 billion, a PE ratio of 13.69, a PEG ratio of 0.62 and a beta of 0.61. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $50.90 and its 200-day moving average is $56.02. CVS Health Co. has a 1-year low of $43.56 and a 1-year 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 for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 annualized dividend and a dividend yield of 4.93%. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

CVS has been the topic of several analyst reports. UBS Group increased their target price 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. Barclays lowered their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Truist Financial decreased their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen 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 a consensus target price of $68.12.

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.