Miracle Mile Advisors LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Miracle Mile Advisors LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 21.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,931 shares of the pharmacy operator’s stock after selling 2,471 shares during the period. Miracle Mile Advisors LLC’s holdings in CVS Health were worth $401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC increased its stake 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 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% in 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 acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new stake in CVS Health during the 3rd quarter worth about $121,987,000. Pathway Financial Advisers LLC grew its stake in 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 valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of 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 purchasing an additional 1,327,855 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS opened at $52.15 on Thursday. The firm’s fifty day simple moving average is $51.68 and its two-hundred day simple moving average is $56.44. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market cap of $65.63 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.85 and a beta of 0.59. 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 (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, topping the consensus estimate 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 analysts’ expectations of $92.72 billion. During the same period in the previous year, the firm posted $2.21 EPS. CVS Health’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.10%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVS. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Mizuho lowered their target price 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.71.

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.