Iowa State Bank Sells 729 Shares of CVS Health Co. (NYSE:CVS)

Iowa State Bank decreased its position in CVS Health Co. (NYSE:CVS) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 18,323 shares of the pharmacy operator’s stock after selling 729 shares during the period. Iowa State Bank’s holdings in CVS Health were worth $823,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of CVS Health by 3.6% in the third 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 raised its position in CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after acquiring an additional 461,569 shares during the period. Pzena Investment Management LLC grew 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 valued at $825,948,000 after acquiring an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. increased 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 worth $767,681,000 after purchasing an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in 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 worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVS has been the subject of a number of analyst reports. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, December 3rd. Finally, UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Up 1.1 %

CVS Health stock traded up $0.51 during mid-day trading on Monday, hitting $46.28. The company’s stock had a trading volume of 10,417,791 shares, compared to its average volume of 10,927,900. CVS Health Co. has a one year low of $43.56 and a one year high of $83.25. The stock has a market cap of $58.24 billion, a PE ratio of 11.75, a P/E/G ratio of 0.85 and a beta of 0.54. The company has a 50 day moving average of $52.84 and a 200-day moving average of $57.08. 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 posted its quarterly 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. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 EPS. On average, research analysts anticipate that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.75%. CVS Health’s payout ratio is 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.