Coerente Capital Management Sells 48,485 Shares of CVS Health Co. (NYSE:CVS)

Coerente Capital Management cut its position in CVS Health Co. (NYSE:CVS) by 28.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 122,196 shares of the pharmacy operator’s stock after selling 48,485 shares during the quarter. CVS Health comprises 1.0% of Coerente Capital Management’s portfolio, making the stock its 23rd biggest holding. Coerente Capital Management’s holdings in CVS Health were worth $5,485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of CVS Health in the 2nd quarter valued at $8,005,000. Mattson Financial Services LLC acquired a new stake in CVS Health in the second quarter valued at about $1,014,000. AMF Tjanstepension AB grew its position in CVS Health by 124.1% in the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock valued at $3,882,000 after acquiring an additional 34,198 shares during the last quarter. Czech National Bank lifted its holdings in shares of CVS Health by 7.2% in the third quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock worth $16,124,000 after acquiring an additional 17,206 shares during the last quarter. Finally, Farmers Trust Co. boosted its stake in shares of CVS Health by 7.6% in the 3rd quarter. Farmers Trust Co. now owns 79,493 shares of the pharmacy operator’s stock valued at $4,999,000 after purchasing an additional 5,634 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.5 %

CVS Health stock opened at $56.53 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 $71.13 billion, a PE ratio of 14.35, a PEG ratio of 0.62 and a beta of 0.59. The firm’s fifty day moving average is $51.24 and its 200 day moving average is $56.17. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last issued its earnings results 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 company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the business posted $2.21 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Co. will post 5.18 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced 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 4.71%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVS shares. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Truist Financial lowered their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. UBS Group upped their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.12.

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.