CVS Health Co. (NYSE:CVS) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 82.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 983 shares of the pharmacy operator’s stock after selling 4,546 shares during the quarter. Brooklyn Investment Group’s holdings in CVS Health were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CVS. Assetmark Inc. lifted its stake in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. increased its stake in CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. boosted its stake in CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after buying an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $52.72 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $51.34 and its two-hundred day moving average is $56.32. The firm has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a PEG ratio of 0.72 and a beta of 0.59. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. Analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.05%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVS. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $68.71.

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.