CVS Health Co. (NYSE:CVS) Holdings Cut by Key Financial Inc

Key Financial Inc decreased its stake in CVS Health Co. (NYSE:CVS) by 40.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,314 shares of the pharmacy operator’s stock after selling 2,270 shares during the quarter. Key Financial Inc’s holdings in CVS Health were worth $149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. AMF Tjanstepension AB lifted its position in CVS Health by 124.1% in the 3rd quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after buying an additional 34,198 shares in the last quarter. Creative Planning increased its stake in shares of CVS Health by 23.5% during the 3rd quarter. Creative Planning now owns 250,891 shares of the pharmacy operator’s stock worth $15,776,000 after purchasing an additional 47,737 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CVS Health by 6.2% during the 3rd quarter. Blue Trust Inc. now owns 9,673 shares of the pharmacy operator’s stock worth $571,000 after purchasing an additional 562 shares during the last quarter. Vest Financial LLC acquired a new position in shares of CVS Health during the 3rd quarter worth $512,000. Finally, Kempner Capital Management Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth $2,140,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVS. UBS Group dropped their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Wolfe Research increased their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Barclays increased their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Price Performance

NYSE:CVS opened at $65.47 on Wednesday. The company has a 50-day moving average of $51.51 and a 200-day moving average of $56.07. The company has a market capitalization of $82.39 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. 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 (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, equities research analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.