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

Perpetual Ltd trimmed its holdings in CVS Health Co. (NYSE:CVS) by 48.2% in the 4th quarter, according to its most recent disclosure 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 SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ballentine Partners LLC raised its holdings in CVS Health by 17.5% during the fourth quarter. Ballentine Partners LLC now owns 5,314 shares of the pharmacy operator’s stock valued at $239,000 after buying an additional 793 shares in the last quarter. LaFleur & Godfrey LLC lifted its position in shares of CVS Health by 49.9% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock worth $217,000 after purchasing an additional 1,610 shares during the last quarter. AHL Investment Management Inc. boosted its stake in CVS Health by 1.7% during the 4th quarter. AHL Investment Management Inc. now owns 43,316 shares of the pharmacy operator’s stock valued at $1,944,000 after purchasing an additional 713 shares during the period. M.E. Allison & CO. Inc. acquired a new stake in CVS Health in the 4th quarter valued at approximately $277,000. Finally, Diversify Wealth Management LLC increased its position in CVS Health by 2.6% in the 4th quarter. Diversify Wealth Management LLC now owns 16,181 shares of the pharmacy operator’s stock worth $777,000 after buying an additional 408 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 0.2 %

CVS opened at $53.05 on Thursday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The firm has a 50-day moving average price of $51.26 and a two-hundred day moving average price of $56.26. The stock has a market capitalization of $66.76 billion, a PE ratio of 13.46, a PEG ratio of 0.79 and a beta of 0.59. 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 (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 firm had revenue of $95.43 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, equities analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVS shares. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company upgraded 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 report on Monday, November 18th. Finally, Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.