Swiss National Bank Lowers Stake in CVS Health Co. (NYSE:CVS)

Swiss National Bank lowered its stake in shares of CVS Health Co. (NYSE:CVSFree Report) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,016,360 shares of the pharmacy operator’s stock after selling 107,400 shares during the period. Swiss National Bank’s holdings in CVS Health were worth $317,132,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Atticus Wealth Management LLC lifted its holdings in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of CVS Health by 111.5% during the 3rd 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 during the last quarter. ZRC Wealth Management LLC lifted its holdings in shares of CVS Health by 400.0% during the 4th 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 during the last quarter. Coston McIsaac & Partners lifted its holdings in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of CVS Health during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVS. The Goldman Sachs Group decreased their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company cut their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Truist Financial reissued a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research report on Thursday. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.35.

View Our Latest Stock Report on CVS

CVS Health Price Performance

Shares of NYSE:CVS traded down $2.06 during trading on Thursday, reaching $54.25. 22,977,435 shares of the company’s stock traded hands, compared to its average volume of 11,421,971. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market cap of $68.38 billion, a PE ratio of 8.41, a P/E/G ratio of 0.90 and a beta of 0.56. The company has a 50-day simple moving average of $73.63 and a 200-day simple moving average of $73.50.

CVS Health (NYSE:CVSGet Free Report) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business earned $2.20 earnings per share. CVS Health’s revenue was up 3.7% on a year-over-year basis. As a group, analysts predict that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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