Parkside Financial Bank & Trust Trims Stake in CVS Health Co. (NYSE:CVS)

Parkside Financial Bank & Trust trimmed its stake in CVS Health Co. (NYSE:CVS) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,069 shares of the pharmacy operator’s stock after selling 531 shares during the period. Parkside Financial Bank & Trust’s holdings in CVS Health were worth $228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the 3rd quarter worth $25,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health in the 4th quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter worth $32,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 2.1 %

Shares of NYSE:CVS opened at $65.85 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a 50-day moving average price of $54.33 and a 200 day moving average price of $56.47. The company has a market cap of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVS. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $69.83.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by insiders.

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.