Jacobi Capital Management LLC Has $2.65 Million Position in CVS Health Co. (NYSE:CVS)

Jacobi Capital Management LLC decreased its position in CVS Health Co. (NYSE:CVS) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,541 shares of the pharmacy operator’s stock after selling 2,388 shares during the period. Jacobi Capital Management LLC’s holdings in CVS Health were worth $2,648,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CVS Health by 0.4% in the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock valued at $8,180,295,000 after acquiring an additional 485,744 shares during the last quarter. Capital World Investors boosted its holdings in CVS Health by 0.3% in the fourth quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after acquiring an additional 119,631 shares in the last quarter. Capital International Investors increased its holdings in CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. FMR LLC boosted its holdings in shares of CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of CVS Health by 2.2% in the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after buying an additional 305,564 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

CVS has been the topic of several recent research reports. SVB Leerink restated a “market perform” rating and set a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $87.00 to $58.00 in a research report on Wednesday, May 1st. Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Truist Financial restated a “buy” rating and set a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, Robert W. Baird began coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Performance

NYSE:CVS traded down $0.54 during mid-day trading on Tuesday, hitting $59.74. The stock had a trading volume of 3,701,858 shares, compared to its average volume of 12,120,249. 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 Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company’s 50 day simple moving average is $62.62 and its 200 day simple moving average is $71.18. The stock has a market cap of $75.00 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 0.59 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion for 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%. CVS Health’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.20 EPS. On average, equities research analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is currently 46.75%.

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.