GAMMA Investing LLC Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

GAMMA Investing LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 39.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,254 shares of the pharmacy operator’s stock after selling 4,093 shares during the period. GAMMA Investing LLC’s holdings in CVS Health were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of CVS Health by 34.8% in 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 during the period. State Street Corp boosted its position 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 buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in shares of CVS Health in the third quarter worth $121,987,000. Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after acquiring an additional 1,327,855 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Up 0.1 %

Shares of CVS Health stock opened at $45.82 on Tuesday. The company’s fifty day moving average is $52.63 and its two-hundred day moving average is $56.97. CVS Health Co. has a 1 year low of $43.56 and a 1 year 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. The company has a market capitalization of $57.66 billion, a P/E ratio of 11.63, a PEG ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating 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 firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the business earned $2.21 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.81%. CVS Health’s dividend payout ratio is currently 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.