KBC Group NV Cuts Stock Position in CVS Health Co. (NYSE:CVS)

KBC Group NV trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 21.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,655,490 shares of the pharmacy operator’s stock after selling 447,283 shares during the period. KBC Group NV owned about 0.13% of CVS Health worth $74,314,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the third quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the third quarter worth about $33,000. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVS. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Mizuho lowered their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays cut their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 1.6 %

Shares of CVS Health stock opened at $54.71 on Monday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a 50-day moving average of $51.24 and a 200 day moving average of $56.21. The firm 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.

CVS Health (NYSE:CVS) last released its earnings results 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. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

About CVS Health

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.