CVS Health Co. (NYSE:CVS) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 30.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,012 shares of the pharmacy operator’s stock after selling 2,186 shares during the period. Westover Capital Advisors LLC’s holdings in CVS Health were worth $396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its stake in shares of CVS Health by 22.8% during 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 in the last quarter. Accurate Wealth Management LLC boosted its stake in shares of CVS Health by 4.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,144 shares of the pharmacy operator’s stock worth $226,000 after acquiring an additional 148 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of CVS Health by 4.3% during the 3rd quarter. Mission Wealth Management LP now owns 5,081 shares of the pharmacy operator’s stock worth $355,000 after acquiring an additional 210 shares in the last quarter. Tectonic Advisors LLC lifted its stake in CVS Health by 12.5% in the 3rd quarter. Tectonic Advisors LLC now owns 8,433 shares of the pharmacy operator’s stock valued at $589,000 after buying an additional 935 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in CVS Health by 6.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 65,885 shares of the pharmacy operator’s stock valued at $4,600,000 after buying an additional 3,874 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 2.4 %

CVS stock traded down $1.33 during midday trading on Thursday, hitting $54.98. The company’s stock had a trading volume of 32,344,513 shares, compared to its average volume of 11,532,171. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The firm has a market capitalization of $69.30 billion, a P/E ratio of 8.41, a PEG ratio of 0.90 and a beta of 0.56. The firm has a 50-day simple moving average of $73.63 and a 200-day simple moving average of $73.50.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 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 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. As a group, equities analysts forecast that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.84%. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVS shares. Bank of America decreased their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho decreased their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.35.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s 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 sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.