Global Retirement Partners LLC Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Global Retirement Partners LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 16,189 shares of the pharmacy operator’s stock after selling 295 shares during the quarter. Global Retirement Partners LLC’s holdings in CVS Health were worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in CVS Health by 3.2% during the 3rd quarter. BlackRock Inc. now owns 100,284,278 shares of the pharmacy operator’s stock valued at $5,856,601,000 after acquiring an additional 3,127,908 shares during the period. Morgan Stanley raised its position in CVS Health by 7.1% during the 3rd quarter. Morgan Stanley now owns 24,687,270 shares of the pharmacy operator’s stock valued at $1,441,737,000 after purchasing an additional 1,627,516 shares during the last quarter. Veritas Asset Management LLP raised its position in CVS Health by 3.0% during the 3rd quarter. Veritas Asset Management LLP now owns 10,794,633 shares of the pharmacy operator’s stock valued at $630,407,000 after purchasing an additional 309,570 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in CVS Health by 1.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,592,491 shares of the pharmacy operator’s stock valued at $443,401,000 after purchasing an additional 81,300 shares during the last quarter. Finally, LSV Asset Management raised its position in CVS Health by 1.1% during the 3rd quarter. LSV Asset Management now owns 7,230,350 shares of the pharmacy operator’s stock valued at $422,252,000 after purchasing an additional 80,342 shares during the last quarter. Institutional investors own 74.21% of the company’s stock.

In other CVS Health news, EVP Alan Lotvin sold 7,138 shares of the business’s stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $70.00, for a total value of $499,660.00. Following the completion of the transaction, the executive vice president now owns 8,023 shares of the company’s stock, valued at approximately $561,610. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Bisaccia sold 25,177 shares of the business’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $77.00, for a total value of $1,938,629.00. Following the completion of the transaction, the executive vice president now directly owns 71,765 shares of the company’s stock, valued at approximately $5,525,905. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,151 shares of company stock worth $4,375,989. 0.46% of the stock is currently owned by company insiders.

Shares of CVS Health stock opened at $74.92 on Thursday. The stock has a market cap of $98.06 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.69 and a beta of 0.82. The firm’s 50-day moving average is $70.55 and its 200 day moving average is $64.33. CVS Health Co. has a 1 year low of $52.04 and a 1 year high of $77.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.33. The company had revenue of $67.05 billion for the quarter, compared to analysts’ expectations of $66.54 billion. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. CVS Health’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.84 EPS. On average, equities analysts expect that CVS Health Co. will post 7.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 22nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, January 21st. CVS Health’s payout ratio is 28.25%.

A number of research firms have commented on CVS. Piper Sandler upped their price target on CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Wednesday, November 11th. SVB Leerink upped their price target on CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research report on Monday, December 14th. BidaskClub raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, November 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and an average target price of $82.93.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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