Blue Fin Capital Inc. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Blue Fin Capital Inc. trimmed its stake in CVS Health Co. (NYSE:CVS) by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,841 shares of the pharmacy operator’s stock after selling 5,491 shares during the quarter. Blue Fin Capital Inc.’s holdings in CVS Health were worth $1,646,000 as of its most recent filing with the SEC.

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

CVS Health Stock Performance

CVS stock traded up $0.75 during trading on Friday, reaching $55.90. 23,946,075 shares of the company’s stock were exchanged, compared to its average volume of 12,498,538. CVS Health Co. has a 1-year low of $53.70 and a 1-year high of $83.25. The firm has a market cap of $70.18 billion, a PE ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56. The company’s fifty day moving average price is $72.77 and its 200-day moving average price is $73.26. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analyst Ratings Changes

A number of research firms have weighed in on CVS. Royal Bank of Canada decreased their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. SVB Leerink restated a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a research note on Wednesday. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday. Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Mizuho reduced their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $80.35.

Insider Buying and Selling

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’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 completion of the transaction, the executive vice president now 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 accessible through the SEC website. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

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.