Stack Financial Management Inc Trims Position in CVS Health Co. (NYSE:CVS)

Stack Financial Management Inc reduced its position in shares of CVS Health Co. (NYSE:CVS) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,778 shares of the pharmacy operator’s stock after selling 4,070 shares during the period. Stack Financial Management Inc’s holdings in CVS Health were worth $10,010,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the period. International Assets Investment Management LLC increased its position in shares of CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in CVS Health by 49.9% in the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock valued at $146,341,000 after acquiring an additional 698,054 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after buying an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in CVS Health during the 3rd quarter valued at $34,379,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 0.1 %

Shares of CVS traded down $0.09 during mid-day trading on Friday, reaching $67.24. The company had a trading volume of 2,661,156 shares, compared to its average volume of 10,606,339. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The stock has a market cap of $84.75 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52. 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 firm has a fifty day simple moving average of $74.61 and a 200-day simple moving average of $73.67.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Insider Activity at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CVS shares. Barclays began coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective on the stock. Royal Bank of Canada cut their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. SVB Leerink initiated coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Finally, Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.