Wellington Management Group LLP lowered its position in CVS Health Co. (NYSE:CVS - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,133 shares of the pharmacy operator's stock after selling 4,115 shares during the quarter. Wellington Management Group LLP's holdings in CVS Health were worth $9,882,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the fourth quarter valued at $29,000. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Financial Perspectives Inc lifted its stake in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. raised its position in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.
Wall Street Analysts Forecast Growth
CVS has been the topic of several research analyst reports. Royal Bank of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Robert W. Baird increased their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Truist Financial increased their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $74.75.
Check Out Our Latest Stock Analysis on CVS Health
CVS Health Price Performance
CVS stock traded down $0.03 during mid-day trading on Wednesday, hitting $63.56. The stock had a trading volume of 5,852,394 shares, compared to its average volume of 11,131,533. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The firm has a market capitalization of $80.40 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.98 and a beta of 0.60. The firm has a fifty day simple moving average of $65.47 and a 200 day simple moving average of $59.77.
CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same period last year, the firm earned $1.31 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.
CVS Health Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.
About CVS Health
(
Free Report)
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.
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