Iowa State Bank Reduces Holdings in CVS Health Co. (NYSE:CVS)

Iowa State Bank reduced its stake in CVS Health Co. (NYSE:CVS) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,323 shares of the pharmacy operator’s stock after selling 729 shares during the period. Iowa State Bank’s holdings in CVS Health were worth $823,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC boosted its position in 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 valued at $748,085,000 after buying an additional 3,071,613 shares during the period. State Street Corp raised its stake in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring 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 third quarter worth about $121,987,000. Pathway Financial Advisers LLC grew its stake in shares of CVS Health by 5,864.2% in 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 during the last quarter. Finally, AQR Capital Management LLC increased its holdings in 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 valued at $310,722,000 after purchasing an additional 1,327,855 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 1.1 %

Shares of NYSE CVS traded up $0.51 during midday trading on Monday, hitting $46.28. The stock had a trading volume of 10,417,791 shares, compared to its average volume of 10,927,900. The business’s 50 day moving average is $52.84 and its 200-day moving average is $57.08. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $83.25. 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 company has a market cap of $58.24 billion, a P/E ratio of 11.75, a PEG ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS) last released 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. 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 analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

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 paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.75%. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

CVS has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays reduced their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Piper Sandler cut 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 note on Monday, November 25th. Finally, TD Cowen increased their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, CVS Health currently 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.