Sumitomo Mitsui Trust Group Inc. Has $155.08 Million Stake in CVS Health Co. (NYSE:CVS)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,454,693 shares of the pharmacy operator’s stock after selling 290,712 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of CVS Health worth $155,081,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third quarter worth approximately $25,000. Ridgewood Investments LLC raised its holdings in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the third quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter valued at about $32,000. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial reduced their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

Shares of NYSE CVS opened at $53.95 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company’s 50-day moving average is $50.90 and its 200 day moving average is $56.02. The stock has a market capitalization of $67.90 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during 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 firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. On average, sell-side analysts expect that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 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.