Oak Asset Management LLC Has $2.48 Million Stake in CVS Health Co. (NYSE:CVS)

Oak Asset Management LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 30.1% in the fourth quarter, according to its most recent disclosure 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mendota Financial Group LLC lifted its position in shares of CVS Health by 32,600.0% during the 4th quarter. Mendota Financial Group LLC now owns 981 shares of the pharmacy operator’s stock worth $44,000 after purchasing an additional 978 shares during the last quarter. Grandview Asset Management LLC bought a new position in CVS Health in the 4th quarter worth approximately $311,000. Marcum Wealth LLC lifted its holdings in shares of CVS Health by 17.2% during the fourth quarter. Marcum Wealth LLC now owns 8,723 shares of the pharmacy operator’s stock worth $392,000 after buying an additional 1,283 shares during the last quarter. Persium Advisors LLC bought a new stake in shares of CVS Health in the fourth quarter valued at approximately $323,000. Finally, Bridge Creek Capital Management LLC grew its stake in shares of CVS Health by 0.6% in the fourth quarter. Bridge Creek Capital Management LLC now owns 57,767 shares of the pharmacy operator’s stock worth $2,593,000 after acquiring an additional 330 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVS shares. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Truist Financial reduced their target price 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. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, UBS Group boosted their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

NYSE:CVS opened at $51.54 on Tuesday. The stock has a market capitalization of $64.86 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm has a 50 day moving average of $51.76 and a 200-day moving average of $56.49.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.32 EPS 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. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 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.