Sachetta LLC Sells 3,578 Shares of CVS Health Co. (NYSE:CVS)

Sachetta LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 61.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,284 shares of the pharmacy operator’s stock after selling 3,578 shares during the period. Sachetta LLC’s holdings in CVS Health were worth $103,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC increased its holdings in 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 worth $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp raised its stake in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $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 worth $121,987,000. Pathway Financial Advisers LLC increased its holdings in shares of 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 valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in shares of CVS Health by 1,470.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock worth $87,810,000 after buying an additional 1,307,531 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.71 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $68.84 billion, a PE ratio of 13.88, a P/E/G ratio of 0.80 and a beta of 0.59. The firm has a fifty day simple moving average of $51.21 and a 200 day simple moving average of $56.22. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 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 during the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVS shares. Truist Financial reduced their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

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.