Resonant Capital Advisors LLC Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

Resonant Capital Advisors LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,161 shares of the pharmacy operator’s stock after selling 1,162 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CVS Health were worth $3,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in CVS Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock worth $8,180,295,000 after purchasing an additional 485,744 shares during the period. Morgan Stanley increased its holdings in CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after purchasing an additional 3,311,928 shares during the period. FMR LLC increased its holdings in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in CVS Health by 103,371.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after purchasing an additional 15,532,533 shares during the period. Finally, Norges Bank purchased a new position in CVS Health during the 4th quarter worth $1,425,416,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS stock traded up $0.92 during midday trading on Friday, reaching $69.65. The stock had a trading volume of 5,632,495 shares, compared to its average volume of 10,822,887. The stock has a market cap of $87.79 billion, a PE ratio of 10.75, a P/E/G ratio of 0.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The firm has a fifty day simple moving average of $75.42 and a two-hundred day simple moving average of $73.70. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.99 EPS. As a group, equities research analysts anticipate that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.82%. CVS Health’s dividend payout ratio is presently 41.18%.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. SVB Leerink assumed coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Piper Sandler increased their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Wells Fargo & Company dropped their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.