Burney Co. Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Burney Co. cut its stake in CVS Health Co. (NYSE:CVS) by 5.4% in the fourth quarter, HoldingsChannel reports. The firm owned 19,596 shares of the pharmacy operator’s stock after selling 1,129 shares during the quarter. Burney Co.’s holdings in CVS Health were worth $880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its stake 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 worth $748,085,000 after buying an additional 3,071,613 shares during the period. State Street Corp increased its position in shares of 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 shares of CVS Health during the 3rd quarter worth $121,987,000. Pathway Financial Advisers LLC grew its stake in shares of 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 increased its holdings in 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 during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.3 %

Shares of CVS stock opened at $52.01 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $51.49 and its two-hundred day moving average is $56.39. The company has a market capitalization of $65.44 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59.

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

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several analyst reports. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Piper Sandler dropped their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.71.

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.