Marco Investment Management LLC Sells 1,786 Shares of CVS Health Co. (NYSE:CVS)

Marco Investment Management LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,336 shares of the pharmacy operator’s stock after selling 1,786 shares during the period. Marco Investment Management LLC’s holdings in CVS Health were worth $4,800,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVS. Pzena Investment Management LLC increased its position in CVS Health by 1.5% during the third 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. raised its stake in shares of CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock valued at $767,681,000 after acquiring an additional 304,386 shares in the last quarter. AQR Capital Management LLC lifted its holdings in CVS Health by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. National Pension Service boosted its position in CVS Health by 17.4% during the third quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator’s stock worth $178,793,000 after purchasing an additional 421,416 shares during the period. Finally, Bank of Montreal Can raised its position in shares of CVS Health by 2.4% in the second quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator’s stock valued at $143,890,000 after purchasing an additional 57,214 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.28.

CVS Health Price Performance

Shares of CVS Health stock opened at $58.01 on Friday. The firm has a market cap of $73.00 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.96 and a beta of 0.55. The firm’s 50-day simple moving average is $59.21 and its 200-day simple moving average is $58.61. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. 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, 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 company had revenue of $95.43 billion for 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 company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. As a group, research analysts expect that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s dividend payout ratio is presently 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.