Equitable Trust Co. lowered its stake in CVS Health Corp (NYSE:CVS) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,323 shares of the pharmacy operator’s stock after selling 748 shares during the quarter. Equitable Trust Co.’s holdings in CVS Health were worth $395,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its stake in shares of CVS Health by 744.2% in the 4th quarter. Capital World Investors now owns 10,974,728 shares of the pharmacy operator’s stock valued at $815,313,000 after purchasing an additional 9,674,728 shares during the period. IHT Wealth Management LLC lifted its stake in shares of CVS Health by 57.1% in the 4th quarter. IHT Wealth Management LLC now owns 21,114 shares of the pharmacy operator’s stock valued at $1,569,000 after purchasing an additional 7,676 shares during the period. CapWealth Advisors LLC lifted its stake in shares of CVS Health by 1.4% in the 4th quarter. CapWealth Advisors LLC now owns 287,887 shares of the pharmacy operator’s stock valued at $21,387,000 after purchasing an additional 3,860 shares during the period. Colony Group LLC lifted its stake in shares of CVS Health by 896.6% in the 4th quarter. Colony Group LLC now owns 212,759 shares of the pharmacy operator’s stock valued at $15,806,000 after purchasing an additional 191,410 shares during the period. Finally, Wealth Quarterback LLC acquired a new position in shares of CVS Health in the 4th quarter valued at $12,665,010,000. 77.52% of the stock is currently owned by institutional investors.
CVS has been the topic of a number of analyst reports. UBS Group increased their price target on CVS Health from $78.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup upped their price objective on shares of CVS Health from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Robert W. Baird upped their price objective on shares of CVS Health from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Oppenheimer initiated coverage on shares of CVS Health in a research report on Wednesday, February 12th. They issued a “hold” rating for the company. Finally, Cfra upped their price objective on shares of CVS Health from $85.00 to $86.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average price target of $81.11.
CVS stock traded down $0.53 during trading hours on Thursday, reaching $53.11. 2,506,930 shares of the stock were exchanged, compared to its average volume of 15,715,016. The firm’s 50-day moving average is $64.55 and its 200-day moving average is $68.44. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.18 and a beta of 0.97. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.94 and a quick ratio of 0.62. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $77.03.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. The firm had revenue of $66.89 billion during the quarter, compared to analysts’ expectations of $64.01 billion. CVS Health had a return on equity of 14.87% and a net margin of 2.58%. The company’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.14 EPS. As a group, equities research analysts forecast that CVS Health Corp will post 7.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Thursday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
In other news, CEO Larry J. Merlo sold 266,476 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the transaction, the chief executive officer now owns 703,497 shares in the company, valued at approximately $52,614,540.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan C. Roberts sold 57,563 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total value of $4,180,800.69. Following the completion of the transaction, the chief operating officer now owns 102,608 shares of the company’s stock, valued at approximately $7,452,419.04. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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