Thompson Investment Management Inc. Buys 10,534 Shares of CVS Health Co. (NYSE:CVS)

Thompson Investment Management Inc. lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,783 shares of the pharmacy operator’s stock after acquiring an additional 10,534 shares during the quarter. Thompson Investment Management Inc.’s holdings in CVS Health were worth $6,544,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of 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 worth $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP raised its holdings in shares of CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after acquiring an additional 2,371,563 shares in the last quarter. State Street Corp raised its holdings 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 worth $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC raised its holdings in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CVS shares. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Piper Sandler decreased their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. Barclays decreased their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Truist Financial reduced their target price 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 research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Price Performance

Shares of CVS stock opened at $53.95 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The stock’s 50-day moving average is $50.79 and its 200 day moving average is $56.01. The company has a market cap of $67.90 billion, a P/E ratio of 13.69, a PEG ratio of 0.60 and a beta of 0.61. 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 issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. CVS Health’s payout ratio is 67.51%.

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.