Inlet Private Wealth LLC Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Inlet Private Wealth LLC lifted its stake in CVS Health Co. (NYSE:CVS) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,246 shares of the pharmacy operator’s stock after purchasing an additional 4,350 shares during the period. Inlet Private Wealth LLC’s holdings in CVS Health were worth $3,064,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC raised its position in CVS Health by 1.8% during the 3rd 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 boosted its holdings in CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after purchasing an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CVS Health by 2.6% during 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 acquiring an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS opened at $56.53 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm has a 50-day simple moving average of $51.24 and a 200 day simple moving average of $56.17. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a market cap of $71.13 billion, a PE ratio of 14.35, a P/E/G ratio of 0.62 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. On average, sell-side analysts anticipate that CVS Health Co. will post 5.18 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued 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 dividend yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. TD Cowen increased their target price 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. Finally, Royal Bank of Canada cut their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Company 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.