Catalyst Financial Partners LLC Lowers Position in CVS Health Co. (NYSE:CVS)

Catalyst Financial Partners LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 10.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,191 shares of the pharmacy operator’s stock after selling 638 shares during the period. Catalyst Financial Partners LLC’s holdings in CVS Health were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Atticus Wealth Management LLC raised its position in CVS Health by 149.0% during 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 raised its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC raised its position in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners raised its position in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in CVS Health during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

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

CVS Health Stock Down 1.5 %

Shares of CVS traded down $0.81 during trading hours on Wednesday, hitting $54.93. The company had a trading volume of 13,618,157 shares, compared to its average volume of 11,890,314. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The firm has a fifty day moving average price of $71.95 and a 200-day moving average price of $73.09. The stock has a market capitalization of $68.96 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Bank of America decreased their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. SVB Leerink reiterated a “market perform” rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Finally, Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.67.

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.