Avalon Trust Co Has $23.75 Million Position in CVS Health Co. (NYSE:CVS)

Avalon Trust Co decreased its stake in CVS Health Co. (NYSE:CVS) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 300,785 shares of the pharmacy operator’s stock after selling 835 shares during the quarter. CVS Health makes up approximately 2.2% of Avalon Trust Co’s holdings, making the stock its 13th largest position. Avalon Trust Co’s holdings in CVS Health were worth $23,750,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVS. Atticus Wealth Management LLC grew its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC increased its stake in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares during the last quarter. Coston McIsaac & Partners lifted its stake in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in CVS Health in the fourth quarter worth $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $60.00 in a research report on Thursday. Barclays lowered their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Wells Fargo & Company cut their price objective on 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. Finally, Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Price Performance

CVS traded up $0.75 during midday trading on Friday, reaching $55.90. 23,946,075 shares of the company’s stock were exchanged, compared to its average volume of 12,498,538. CVS Health Co. has a one year low of $53.70 and a one year high of $83.25. The firm has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.56. The business has a 50-day simple moving average of $72.77 and a two-hundred day simple moving average of $73.26. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. As a group, research analysts predict that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Insider Activity

In other CVS Health 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 value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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.