CVS Health Co. (NYSE:CVS) Shares Acquired by VCI Wealth Management LLC

VCI Wealth Management LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 52.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,885 shares of the pharmacy operator’s stock after purchasing an additional 10,630 shares during the period. VCI Wealth Management LLC’s holdings in CVS Health were worth $1,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC grew its position in CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its position in CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in 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 worth $748,085,000 after buying an additional 3,071,613 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $56.20 on Tuesday. The firm has a market cap of $70.72 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.80 and a beta of 0.59. The company has a 50 day moving average of $51.24 and a 200-day moving average of $56.20. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 net margin of 1.36% and a return on equity of 10.72%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $2.21 earnings per share. On average, equities analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.73%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. TD Cowen lifted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler lowered 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 report on Monday, November 25th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Truist Financial decreased their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $68.12.

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.