Nisa Investment Advisors LLC Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Nisa Investment Advisors LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 304,517 shares of the pharmacy operator’s stock after selling 9,507 shares during the period. Nisa Investment Advisors LLC’s holdings in CVS Health were worth $13,670,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the third quarter valued at about $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the third quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the third quarter valued at about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.7 %

Shares of CVS stock opened at $53.87 on Friday. The stock has a market cap of $67.79 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a 50 day moving average of $51.23 and a 200 day moving average of $56.24. 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 announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.94%. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Ratings Changes

Several research analysts recently commented on CVS shares. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada lowered their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Truist Financial dropped their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health 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.