Pinnacle Financial Partners Inc. raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,255 shares of the pharmacy operator’s stock after purchasing an additional 565 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in CVS Health were worth $9,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Benson Investment Management Company Inc. increased its holdings in shares of CVS Health by 0.6% during the fourth quarter. Benson Investment Management Company Inc. now owns 72,329 shares of the pharmacy operator’s stock valued at $4,904,000 after acquiring an additional 414 shares in the last quarter. Sowell Financial Services LLC grew its holdings in CVS Health by 2.7% during the fourth quarter. Sowell Financial Services LLC now owns 42,282 shares of the pharmacy operator’s stock worth $2,888,000 after buying an additional 1,107 shares in the last quarter. Parkside Investments LLC grew its holdings in CVS Health by 7.7% during the fourth quarter. Parkside Investments LLC now owns 93,882 shares of the pharmacy operator’s stock worth $6,412,000 after buying an additional 6,674 shares in the last quarter. Symphony Financial Ltd. Co. grew its holdings in CVS Health by 15.0% during the fourth quarter. Symphony Financial Ltd. Co. now owns 4,643 shares of the pharmacy operator’s stock worth $325,000 after buying an additional 607 shares in the last quarter. Finally, KMG Fiduciary Partners LLC grew its holdings in CVS Health by 16.4% during the fourth quarter. KMG Fiduciary Partners LLC now owns 60,950 shares of the pharmacy operator’s stock worth $4,295,000 after buying an additional 8,609 shares in the last quarter. 74.21% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. BidaskClub upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. SVB Leerink upped their price objective on CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research note on Monday, December 14th. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, January 8th. Piper Sandler upped their price objective on CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, November 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CVS Health currently has an average rating of “Buy” and an average price target of $82.93.

Shares of NYSE CVS traded down $1.34 during trading on Wednesday, reaching $74.92. 6,170,662 shares of the stock traded hands, compared to its average volume of 8,403,607. CVS Health Co. has a 52-week low of $52.04 and a 52-week high of $77.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. The company has a 50-day moving average of $70.40 and a 200-day moving average of $64.26. The stock has a market capitalization of $98.06 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The business had revenue of $67.05 billion for the quarter, compared to analysts’ expectations of $66.54 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. Analysts expect that CVS Health Co. will post 7.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 22nd will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.67%. CVS Health’s dividend payout ratio (DPR) is 28.25%.

In related news, EVP Alan Lotvin sold 7,138 shares of the stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $70.00, for a total transaction of $499,660.00. Following the sale, the executive vice president now owns 8,023 shares of the company’s stock, valued at approximately $561,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Bisaccia sold 25,177 shares of the stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $77.00, for a total value of $1,938,629.00. Following the sale, the executive vice president now directly owns 71,765 shares in the company, valued at approximately $5,525,905. The disclosure for this sale can be found here. Insiders have sold a total of 58,151 shares of company stock worth $4,375,989 in the last three months. 0.46% of the stock is currently owned by insiders.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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

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