1ST Source Bank Sells 1,945 Shares of CVS Health Co. (NYSE:CVS)

1ST Source Bank trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,336 shares of the pharmacy operator’s stock after selling 1,945 shares during the period. 1ST Source Bank’s holdings in CVS Health were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Widmann Financial Services Inc. grew its holdings in CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after acquiring an additional 200 shares in the last quarter. EagleClaw Capital Managment LLC boosted its holdings in shares of CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after buying an additional 200 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after buying an additional 204 shares in the last quarter. Rogco LP boosted its holdings in shares of CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after buying an additional 210 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of CVS Health by 3.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator’s stock valued at $304,000 after buying an additional 248 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

NYSE:CVS opened at $66.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $84.03 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a 50 day moving average price of $58.89 and a 200-day moving average price of $57.05. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.99%. CVS Health’s dividend payout ratio is currently 72.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVS shares. JPMorgan Chase & Co. raised their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Truist Financial lifted their target price 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. Finally, TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

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.