Choreo LLC Sells 4,886 Shares of CVS Health Co. (NYSE:CVS)

Choreo LLC reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,050 shares of the pharmacy operator's stock after selling 4,886 shares during the period. Choreo LLC's holdings in CVS Health were worth $2,876,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP lifted its stake in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator's stock valued at $107,866,000 after acquiring an additional 2,371,563 shares during the period. State Street Corp grew its stake in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP bought a new position in CVS Health during the third quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC boosted its holdings in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 25th. UBS Group raised their target price on CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Piper Sandler lowered their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Finally, Truist Financial dropped their price target on shares of CVS Health from $67.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.12.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.29 during trading on Friday, reaching $53.95. 5,908,455 shares of the stock traded hands, compared to its average volume of 12,508,534. 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 company has a market capitalization of $67.90 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.62 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 business has a fifty day simple moving average of $50.90 and a two-hundred day simple moving average of $56.02.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The company's revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. CVS Health's 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.