CVS Health Co. (NYSE:CVS) Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 71,785 shares of the pharmacy operator’s stock after selling 7,608 shares during the period. SVB Wealth LLC’s holdings in CVS Health were worth $5,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First American Trust FSB increased its stake in CVS Health by 2.3% during the fourth quarter. First American Trust FSB now owns 84,971 shares of the pharmacy operator’s stock worth $6,709,000 after acquiring an additional 1,895 shares during the last quarter. Grant GrossMendelsohn LLC increased its stake in CVS Health by 21.5% during the fourth quarter. Grant GrossMendelsohn LLC now owns 11,112 shares of the pharmacy operator’s stock worth $811,000 after acquiring an additional 1,970 shares during the last quarter. Crescent Grove Advisors LLC increased its stake in CVS Health by 30.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,893 shares of the pharmacy operator’s stock worth $386,000 after acquiring an additional 1,136 shares during the last quarter. LifePlan Financial LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at about $1,581,000. Finally, Donaldson Capital Management LLC grew its stake in shares of CVS Health by 9.2% in the fourth quarter. Donaldson Capital Management LLC now owns 9,677 shares of the pharmacy operator’s stock valued at $764,000 after buying an additional 812 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Piper Sandler increased their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. HSBC assumed coverage on CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price for the company. SVB Leerink assumed coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Trading Up 0.1 %

Shares of NYSE CVS opened at $69.03 on Wednesday. The company has a market cap of $87.01 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $75.68 and its 200 day simple moving average is $73.77.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 EPS. Equities research analysts expect that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

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.