Perpetual Ltd Sells 16,129 Shares of CVS Health Co. (NYSE:CVS)

Perpetual Ltd lowered its position in CVS Health Co. (NYSE:CVS - Free Report) by 48.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,314 shares of the pharmacy operator's stock after selling 16,129 shares during the quarter. Perpetual Ltd's holdings in CVS Health were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock worth $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock worth $767,681,000 after buying an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVS shares. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 25th. UBS Group upped their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Finally, Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $68.71.

CVS Health Trading Up 1.9 %

NYSE:CVS traded up $1.00 during mid-day trading on Thursday, hitting $53.33. The company had a trading volume of 7,721,579 shares, compared to its average volume of 13,548,971. The firm has a market cap of $67.12 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The business's fifty day moving average is $51.23 and its two-hundred day moving average is $56.24. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business's revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. As a group, research analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.99%. CVS Health's dividend payout ratio is presently 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.