Oakworth Capital Inc. Sells 1,148 Shares of CVS Health Co. (NYSE:CVS)

Oakworth Capital Inc. cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 29.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,789 shares of the pharmacy operator’s stock after selling 1,148 shares during the period. Oakworth Capital Inc.’s holdings in CVS Health were worth $125,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its holdings 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 valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP grew its stake in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares during the last quarter. State Street Corp increased its holdings in shares of CVS Health by 3.6% in the third 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 period. TOMS Capital Investment Management LP purchased a new position in shares of CVS Health in the third quarter worth about $121,987,000. Finally, Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 2.7 %

Shares of NYSE CVS opened at $54.20 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company’s 50-day simple moving average is $51.02 and its 200-day simple moving average is $56.04. The firm has a market cap of $68.21 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Equities analysts predict that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.91%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial reduced their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.