Truist Financial Corp lessened its stake in CVS Health Co. (NYSE:CVS – Free Report) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,329,096 shares of the pharmacy operator’s stock after selling 262,052 shares during the quarter. Truist Financial Corp owned 0.18% of CVS Health worth $183,905,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in CVS Health by 22.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock valued at $418,000 after acquiring an additional 1,112 shares in the last quarter. Advisory Alpha LLC lifted its stake in CVS Health by 19.8% in the 3rd quarter. Advisory Alpha LLC now owns 3,674 shares of the pharmacy operator’s stock valued at $257,000 after buying an additional 606 shares in the last quarter. Benin Management CORP grew its holdings in CVS Health by 1.7% during the 3rd quarter. Benin Management CORP now owns 36,074 shares of the pharmacy operator’s stock valued at $2,519,000 after buying an additional 600 shares during the last quarter. SOL Capital Management CO increased its position in CVS Health by 17.0% during the third quarter. SOL Capital Management CO now owns 47,217 shares of the pharmacy operator’s stock worth $3,297,000 after buying an additional 6,871 shares in the last quarter. Finally, Coerente Capital Management raised its holdings in shares of CVS Health by 5.3% in the third quarter. Coerente Capital Management now owns 208,704 shares of the pharmacy operator’s stock worth $14,572,000 after acquiring an additional 10,550 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CVS. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Barclays started coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Royal Bank of Canada reduced their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, SVB Leerink began coverage on CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.44.
Read Our Latest Report on CVS Health
Insider Buying and Selling at CVS Health
In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.
CVS Health Trading Down 0.2 %
CVS traded down $0.15 on Friday, reaching $67.18. 6,393,752 shares of the company’s stock were exchanged, compared to its average volume of 10,655,146. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The company’s 50 day moving average is $74.42 and its 200-day moving average is $73.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a market cap of $84.68 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.90 and a beta of 0.52.
CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 EPS. Equities analysts predict that CVS Health Co. will post 8.31 earnings per share for the current year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 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.
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