International Assets Investment Management LLC Sells 1,134,652 Shares of CVS Health Co. (NYSE:CVS)

International Assets Investment Management LLC lessened its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 99.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,197 shares of the pharmacy operator's stock after selling 1,134,652 shares during the quarter. International Assets Investment Management LLC's holdings in CVS Health were worth $495,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock worth $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC increased its holdings in CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator's stock worth $2,951,000 after purchasing an additional 10,465 shares in the last quarter. Cullinan Associates Inc. lifted its stake in CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator's stock valued at $7,125,000 after buying an additional 37,395 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock worth $90,200,000 after buying an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its stake in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator's stock valued at $8,459,000 after acquiring an additional 10,453 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Truist Financial dropped their price target 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. TD Cowen boosted their price objective on CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 25th. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Finally, StockNews.com lowered shares of CVS Health from a "hold" rating to a "sell" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.71.

CVS Health Stock Performance

Shares of CVS stock traded up $1.99 during trading hours on Friday, hitting $48.00. 16,806,787 shares of the company were exchanged, compared to its average volume of 13,434,279. The firm has a fifty day simple moving average of $51.82 and a 200 day simple moving average of $56.58. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The stock has a market capitalization of $60.40 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 0.59. 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 - Get Free Report) last issued its quarterly 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. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 5.54%. CVS Health's dividend payout ratio is currently 67.51%.

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.