Choreo LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Choreo LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,050 shares of the pharmacy operator’s stock after selling 4,886 shares during the quarter. Choreo LLC’s holdings in CVS Health were worth $2,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tectonic Advisors LLC increased its holdings in CVS Health by 12.6% during the 4th quarter. Tectonic Advisors LLC now owns 14,497 shares of the pharmacy operator’s stock worth $651,000 after purchasing an additional 1,619 shares during the last quarter. Lion Street Advisors LLC increased its holdings in CVS Health by 18.3% during the 4th quarter. Lion Street Advisors LLC now owns 8,369 shares of the pharmacy operator’s stock worth $376,000 after purchasing an additional 1,295 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in CVS Health by 25.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,645 shares of the pharmacy operator’s stock worth $5,884,000 after purchasing an additional 26,589 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in CVS Health during the 4th quarter worth approximately $144,000. Finally, Yousif Capital Management LLC increased its holdings in CVS Health by 1.6% during the 4th quarter. Yousif Capital Management LLC now owns 225,627 shares of the pharmacy operator’s stock worth $10,128,000 after purchasing an additional 3,604 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Down 2.7 %

Shares of CVS stock opened at $54.20 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock has a fifty day moving average of $51.02 and a two-hundred day moving average of $56.04. The firm has a market capitalization of $68.21 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61.

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 return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous 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, research analysts expect that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.91%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVS. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. Truist Financial lowered their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Company 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.