SVB Wealth LLC Sells 7,608 Shares of CVS Health Co. (NYSE:CVS)

SVB Wealth LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,785 shares of the pharmacy operator’s stock after selling 7,608 shares during the period. SVB Wealth LLC’s holdings in CVS Health were worth $5,668,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. First American Trust FSB increased its position in CVS Health by 2.3% during the fourth quarter. First American Trust FSB now owns 84,971 shares of the pharmacy operator’s stock valued at $6,709,000 after acquiring an additional 1,895 shares during the last quarter. Grant GrossMendelsohn LLC increased its position in CVS Health by 21.5% during the fourth quarter. Grant GrossMendelsohn LLC now owns 11,112 shares of the pharmacy operator’s stock valued at $811,000 after acquiring an additional 1,970 shares during the last quarter. Crescent Grove Advisors LLC increased its position in CVS Health by 30.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,893 shares of the pharmacy operator’s stock valued at $386,000 after acquiring an additional 1,136 shares during the last quarter. LifePlan Financial LLC bought a new position in CVS Health during the fourth quarter valued at $1,581,000. Finally, Donaldson Capital Management LLC increased its position in CVS Health by 9.2% during the fourth quarter. Donaldson Capital Management LLC now owns 9,677 shares of the pharmacy operator’s stock valued at $764,000 after acquiring an additional 812 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

CVS stock opened at $69.03 on Wednesday. The firm has a market cap of $87.01 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.52. The firm has a 50-day simple moving average of $75.68 and a two-hundred day simple moving average of $73.77. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

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 during 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 firm posted $1.99 earnings per share. On average, equities analysts forecast that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.85%. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVS shares. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Barclays started coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Finally, SVB Leerink started coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Company 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.