CVS Health Co. (NYSE:CVS) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC lowered its stake in CVS Health Co. (NYSE:CVS) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,265 shares of the pharmacy operator’s stock after selling 23,770 shares during the quarter. Oak Asset Management LLC’s holdings in CVS Health were worth $2,481,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% during the third 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 in the last quarter. State Street Corp increased its position in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP bought a new stake in shares of CVS Health in the 3rd quarter worth $121,987,000. Pathway Financial Advisers LLC boosted its stake in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered their price objective 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. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. Finally, Truist Financial dropped their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. One investment 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. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Trading Up 7.4 %

CVS Health stock opened at $51.54 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company’s fifty day simple moving average is $51.76 and its 200-day simple moving average is $56.49. The stock has a market cap of $64.86 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. As a group, sell-side analysts forecast that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend 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.