CVS Health Co. (NYSE:CVS) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,309 shares of the pharmacy operator’s stock after selling 1,909 shares during the period. Forza Wealth Management LLC’s holdings in CVS Health were worth $373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the period. State Street Corp increased 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 valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the third quarter valued at approximately $121,987,000. Pathway Financial Advisers LLC lifted its stake 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 purchasing an additional 1,701,331 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after buying an additional 1,327,855 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVS. Piper Sandler cut their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Truist Financial reduced their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Performance

NYSE CVS traded up $3.43 on Monday, hitting $51.44. 17,978,866 shares of the company’s stock were exchanged, compared to its average volume of 14,000,489. 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 fifty-two week low of $43.56 and a fifty-two week high of $80.75. The firm has a market cap of $64.73 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.85 and a beta of 0.59. The firm’s 50-day moving average price is $51.82 and its two-hundred day moving average price is $56.55.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping 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 company 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 firm earned $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.17%. CVS Health’s dividend payout ratio (DPR) is 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.