US Bancorp DE Trims Position in CVS Health Co. (NYSE:CVS)

US Bancorp DE trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 34.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 209,429 shares of the pharmacy operator’s stock after selling 108,175 shares during the period. US Bancorp DE’s holdings in CVS Health were worth $9,401,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its stake in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC grew its stake in CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Principal Financial Group Inc. grew its stake in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after acquiring an additional 66,244 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its stake in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after acquiring an additional 10,453 shares in the last quarter. Finally, Hall Laurie J Trustee grew its stake in CVS Health by 25,484.4% during the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock valued at $517,000 after acquiring an additional 11,468 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

CVS Health Trading Down 1.4 %

Shares of CVS opened at $64.82 on Tuesday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a 50-day moving average of $54.74 and a 200 day moving average of $56.53. The firm has a market capitalization of $81.72 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.10%. CVS Health’s dividend payout ratio is currently 72.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CVS shares. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Finally, Truist Financial lifted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

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.