Ingalls & Snyder LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Ingalls & Snyder LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 35.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,776 shares of the pharmacy operator’s stock after selling 9,660 shares during the period. Ingalls & Snyder LLC’s holdings in CVS Health were worth $798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 valued at $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP lifted its holdings in shares of CVS Health by 7,567.7% in the fourth 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 in the last quarter. State Street Corp lifted 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 in the last quarter. TOMS Capital Investment Management LP purchased a new stake in shares of CVS Health in the third quarter valued at about $121,987,000. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CVS. Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Piper Sandler reduced their price objective 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. TD Cowen upped their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group reduced their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Price Performance

CVS Health stock opened at $66.35 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a fifty day moving average of $50.71 and a 200-day moving average of $55.94. The firm has a market capitalization of $83.49 billion, a P/E ratio of 16.84, a PEG ratio of 0.60 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, analysts predict that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced 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 4.01%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.