Forza Wealth Management LLC Sells 200 Shares of CVS Health Co. (NYSE:CVS)

Forza Wealth Management LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,273 shares of the pharmacy operator’s stock after selling 200 shares during the period. Forza Wealth Management LLC’s holdings in CVS Health were worth $740,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Atticus Wealth Management LLC lifted its position in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas lifted its position in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the 4th quarter worth $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health during the 4th quarter worth $34,000. Finally, Steph & Co. lifted its position in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 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 legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded up $0.26 during mid-day trading on Monday, hitting $67.44. The company’s stock had a trading volume of 6,556,157 shares, compared to its average volume of 10,605,164. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $85.01 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 0.89 and a beta of 0.52. The stock has a fifty day moving average of $74.22 and a 200-day moving average of $73.65.

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 company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.99 earnings per share. As a group, equities analysts forecast that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health’s dividend payout ratio is 41.18%.

Analyst Ratings Changes

A number of research analysts have weighed in on CVS shares. Barclays started coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Wells Fargo & Company cut their price objective 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. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.