Meyer Handelman Co. Sells 9,103 Shares of CVS Health Co. (NYSE:CVS)

Meyer Handelman Co. cut its position in shares of CVS Health Co. (NYSE:CVS) by 7.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 112,811 shares of the pharmacy operator’s stock after selling 9,103 shares during the period. Meyer Handelman Co.’s holdings in CVS Health were worth $5,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew 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 valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp grew its position in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in CVS Health in the 3rd quarter worth approximately $121,987,000. Pathway Financial Advisers LLC lifted its position in 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 valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of 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 worth $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays reduced their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Up 0.2 %

CVS Health stock opened at $51.60 on Wednesday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The business’s fifty day moving average is $51.68 and its 200 day moving average is $56.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $64.93 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.85 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 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business posted $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The company 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 $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 5.16%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.