Pine Haven Investment Counsel Inc Decreases Holdings in CVS Health Co. (NYSE:CVS)

Pine Haven Investment Counsel Inc cut its stake in CVS Health Co. (NYSE:CVS) by 11.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,207 shares of the pharmacy operator’s stock after selling 1,074 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in CVS Health were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC boosted its holdings in CVS Health by 34.8% in 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 acquiring an additional 3,071,613 shares during the period. State Street Corp lifted its position 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 worth $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP acquired a new stake in CVS Health during the 3rd quarter valued at $121,987,000. Pathway Financial Advisers LLC increased its stake in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after buying an additional 1,327,855 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVS. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial cut their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler dropped their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Price Performance

Shares of NYSE CVS opened at $52.72 on Monday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The firm has a market capitalization of $66.35 billion, a PE ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. 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 business’s fifty day moving average price is $51.34 and its two-hundred day moving average price is $56.32.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed 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 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio 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.