CVS Health Co. (NYSE:CVS) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 97.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,763 shares of the pharmacy operator’s stock after selling 176,711 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in CVS Health were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. FMR LLC raised its position in CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. International Assets Investment Management LLC raised its holdings in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in CVS Health by 49.9% in the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after acquiring an additional 698,054 shares during the last quarter. Pacer Advisors Inc. grew its holdings in CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after acquiring an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of CVS Health in the 3rd quarter valued at $34,379,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on 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 owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $56.32 on Thursday. The stock’s 50-day moving average price is $73.63 and its 200 day moving average price is $73.50. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $70.99 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. CVS Health Co. has a 52-week low of $54.00 and a 52-week high of $83.25.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Analyst Ratings Changes

A number of equities analysts recently commented on CVS shares. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $87.00 to $58.00 in a report on Wednesday. Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Piper Sandler raised their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, SVB Leerink restated a “market perform” rating and issued a $60.00 target price (down previously from $87.00) on shares of CVS Health in a report on Wednesday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.28.

About CVS Health

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.