Pacific Capital Wealth Advisors Inc. Makes New $135,000 Investment in CVS Health Co. (NYSE:CVS)

Pacific Capital Wealth Advisors Inc. bought a new position in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,714 shares of the pharmacy operator’s stock, valued at approximately $135,000.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the period. International Assets Investment Management LLC raised its stake in shares of CVS Health by 8,697.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after acquiring an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of CVS Health by 49.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock valued at $146,341,000 after acquiring an additional 698,054 shares during the period. Pacer Advisors Inc. grew its holdings in shares of CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after purchasing an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $34,379,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE CVS traded down $0.81 during trading on Wednesday, reaching $54.93. The company’s stock had a trading volume of 13,618,157 shares, compared to its average volume of 11,890,314. The business’s fifty day moving average price is $71.95 and its 200-day moving average price is $73.09. CVS Health Co. has a twelve month low of $53.70 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm has a market cap 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.

CVS Health (NYSE:CVS) last issued its quarterly 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). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm earned $2.20 EPS. The business’s revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 4.84%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Buying and Selling at CVS Health

In other news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health 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 completion of the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased 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 owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the business’s 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 sale, 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVS shares. Barclays dropped their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. Truist Financial restated 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. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $77.67.

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.