Goelzer Investment Management Inc. Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Goelzer Investment Management Inc. trimmed its position in CVS Health Co. (NYSE:CVS) by 85.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,850 shares of the pharmacy operator’s stock after selling 65,098 shares during the period. Goelzer Investment Management Inc.’s holdings in CVS Health were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC increased its position in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares in the last quarter. State Street Corp grew its stake in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $121,987,000. Pathway Financial Advisers LLC boosted its stake in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. Finally, Mizuho Markets Americas LLC grew its position in CVS Health by 1,470.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock worth $87,810,000 after purchasing an additional 1,307,531 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.6 %

Shares of CVS stock opened at $54.71 on Friday. The stock has a 50 day simple moving average of $51.24 and a 200-day simple moving average of $56.21. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business 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 company’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, equities research analysts expect that CVS Health Co. will post 5.22 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. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. CVS Health’s payout ratio is currently 67.51%.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Truist Financial lowered their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.