Poplar Forest Capital LLC Has $29.49 Million Stake in CVS Health Co. (NYSE:CVS)

Poplar Forest Capital LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 28.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,527 shares of the pharmacy operator’s stock after selling 151,456 shares during the quarter. CVS Health comprises approximately 4.3% of Poplar Forest Capital LLC’s portfolio, making the stock its 6th biggest holding. Poplar Forest Capital LLC’s holdings in CVS Health were worth $29,494,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. 1900 Wealth Management LLC purchased a new position in shares of CVS Health during the 3rd quarter valued at $219,000. Exchange Traded Concepts LLC increased its stake in CVS Health by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock worth $418,000 after acquiring an additional 1,112 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of CVS Health by 21.9% in the 3rd quarter. Private Trust Co. NA now owns 17,253 shares of the pharmacy operator’s stock valued at $1,205,000 after acquiring an additional 3,103 shares in the last quarter. Riverwater Partners LLC boosted its position in shares of CVS Health by 24.3% during the 3rd quarter. Riverwater Partners LLC now owns 4,205 shares of the pharmacy operator’s stock valued at $294,000 after acquiring an additional 821 shares during the last quarter. Finally, LaFleur & Godfrey LLC grew its holdings in shares of CVS Health by 1.2% during the third quarter. LaFleur & Godfrey LLC now owns 29,806 shares of the pharmacy operator’s stock worth $2,081,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on 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 directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS traded down $0.74 during trading on Wednesday, reaching $67.76. 8,650,023 shares of the company traded hands, compared to its average volume of 10,731,002. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $74.80 and a 200-day simple moving average of $73.72. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The stock has a market capitalization of $85.41 billion, a PE ratio of 10.49, a P/E/G ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion for 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 business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 EPS. Equities research analysts anticipate 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 dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVS shares. Royal Bank of Canada lowered their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Wells Fargo & Company cut their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. 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 on the stock. Barclays assumed coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $89.44.

About CVS Health

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.