CVS Health Co. (NYSE:CVS) Shares Sold by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC cut its stake in CVS Health Co. (NYSE:CVS) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,020 shares of the pharmacy operator’s stock after selling 543 shares during the period. CVS Health comprises approximately 1.0% of Cary Street Partners Asset Management LLC’s portfolio, making the stock its 25th largest position. Cary Street Partners Asset Management LLC’s holdings in CVS Health were worth $5,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Win Advisors Inc. purchased a new stake in shares of CVS Health in the fourth quarter valued at about $211,000. Hexagon Capital Partners LLC raised its holdings in shares of CVS Health by 16.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 5,112 shares of the pharmacy operator’s stock valued at $404,000 after buying an additional 716 shares during the last quarter. Citizens Business Bank purchased a new stake in shares of CVS Health in the fourth quarter valued at about $3,314,000. Mission Wealth Management LP raised its holdings in shares of CVS Health by 30.4% in the fourth quarter. Mission Wealth Management LP now owns 6,625 shares of the pharmacy operator’s stock valued at $523,000 after buying an additional 1,544 shares during the last quarter. Finally, Compass Capital Management Inc. raised its holdings in shares of CVS Health by 0.5% in the fourth quarter. Compass Capital Management Inc. now owns 677,656 shares of the pharmacy operator’s stock valued at $53,508,000 after buying an additional 3,254 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS stock traded down $11.23 during trading hours on Wednesday, hitting $56.48. The company’s stock had a trading volume of 36,100,306 shares, compared to its average volume of 10,910,134. The business has a fifty day moving average of $74.05 and a 200-day moving average of $73.62. The stock has a market cap of $71.19 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 0.89 and a beta of 0.52. CVS Health Co. has a twelve month low of $54.00 and a twelve month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.99 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s dividend payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Wells Fargo & Company dropped their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Piper Sandler boosted their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

CVS Health Profile

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.