Perpetual Ltd Sells 16,129 Shares of CVS Health Co. (NYSE:CVS)

Perpetual Ltd reduced its holdings in CVS Health Co. (NYSE:CVS) by 48.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,314 shares of the pharmacy operator’s stock after selling 16,129 shares during the period. Perpetual Ltd’s holdings in CVS Health were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CVS. Abich Financial Wealth Management LLC purchased a new position in CVS Health during the second quarter valued at approximately $217,000. Ariel Investments LLC raised its position in CVS Health by 10.3% during the second quarter. Ariel Investments LLC now owns 669,084 shares of the pharmacy operator’s stock valued at $39,516,000 after acquiring an additional 62,475 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of CVS Health by 0.9% during the 2nd quarter. APG Asset Management N.V. now owns 1,108,877 shares of the pharmacy operator’s stock worth $61,106,000 after buying an additional 10,096 shares during the period. Finally, Employees Retirement System of Texas grew its position in shares of CVS Health by 12.9% in the second quarter. Employees Retirement System of Texas now owns 104,590 shares of the pharmacy operator’s stock valued at $6,177,000 after purchasing an additional 11,950 shares during the period. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen raised their price target on 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 dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Down 0.2 %

CVS Health stock opened at $53.05 on Thursday. The company has a 50 day moving average price of $51.26 and a 200 day moving average price of $56.26. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a market capitalization of $66.76 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.79 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.01%. CVS Health’s payout ratio 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.