Copperwynd Financial LLC cut its stake in shares of CVS Health Corp (NYSE:CVS) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,435 shares of the pharmacy operator’s stock after selling 374 shares during the period. Copperwynd Financial LLC’s holdings in CVS Health were worth $627,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Signet Financial Management LLC lifted its holdings in CVS Health by 8.4% during the third quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock worth $363,000 after acquiring an additional 391 shares in the last quarter. Point72 Asset Management L.P. bought a new position in CVS Health during the third quarter worth about $22,738,000. Regal Investment Advisors LLC lifted its holdings in CVS Health by 349.5% during the third quarter. Regal Investment Advisors LLC now owns 43,073 shares of the pharmacy operator’s stock worth $2,717,000 after acquiring an additional 33,491 shares in the last quarter. River & Mercantile Asset Management LLP lifted its holdings in CVS Health by 17.5% during the second quarter. River & Mercantile Asset Management LLP now owns 154,572 shares of the pharmacy operator’s stock worth $8,425,000 after acquiring an additional 23,061 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new position in CVS Health during the third quarter worth about $41,422,000. 76.67% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health stock traded down $0.48 during trading on Thursday, reaching $73.53. The stock had a trading volume of 8,602,453 shares, compared to its average volume of 6,290,723. The company has a market capitalization of $97.04 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.59 and a beta of 0.89. The stock has a fifty day moving average price of $74.18 and a two-hundred day moving average price of $66.05. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $77.03. The company has a current ratio of 0.92, a quick ratio of 0.61 and a debt-to-equity ratio of 1.32.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The company had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 earnings per share. On average, equities analysts forecast that CVS Health Corp will post 7.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, January 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
Several research analysts have weighed in on CVS shares. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a report on Saturday, January 18th. Royal Bank of Canada started coverage on CVS Health in a report on Friday, September 27th. They set an “outperform” rating and a $85.00 target price on the stock. Morgan Stanley lifted their target price on CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. UBS Group reiterated a “buy” rating and set a $78.00 target price on shares of CVS Health in a report on Thursday, November 7th. Finally, Mizuho boosted their price target on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.43.
In related news, CEO Larry J. Merlo sold 266,476 shares of CVS Health 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 sale, the chief executive officer now owns 703,497 shares of the company’s stock, valued at $52,614,540.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the completion of the sale, the executive vice president now directly owns 107,921 shares in the company, valued at approximately $7,338,628. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,786 shares of company stock worth $31,726,338. 0.53% of the stock is owned by company insiders.
About CVS Health
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.
Further Reading: Balanced Fund
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