Wealth Quarterback LLC Decreases Position in CVS Health Co. (NYSE:CVS)

Wealth Quarterback LLC decreased its stake in CVS Health Co. (NYSE:CVS) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,381 shares of the pharmacy operator’s stock after selling 820 shares during the quarter. CVS Health comprises 0.7% of Wealth Quarterback LLC’s portfolio, making the stock its 24th biggest holding. Wealth Quarterback LLC’s holdings in CVS Health were worth $1,214,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in CVS Health in the 4th quarter worth about $1,092,040,000. Capital International Investors increased its position in CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. FMR LLC raised its holdings 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 purchasing an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after purchasing an additional 2,297,100 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after buying an additional 1,307,100 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.4 %

Shares of CVS Health stock traded up $0.88 during mid-day trading on Friday, hitting $61.82. The stock had a trading volume of 12,239,154 shares, compared to its average volume of 12,210,226. The firm has a market cap of $77.61 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $63.01 and a two-hundred day moving average of $71.20. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last posted its 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). The business had revenue of $88.44 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. Sell-side analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders 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 4.30%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVS. Truist Financial reiterated a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Bank of America decreased their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Piper Sandler lifted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Argus decreased their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, Baird R W raised CVS Health to a “hold” rating in a research report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.05.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

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.