Tilt Investment Management Holdings PBC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Tilt Investment Management Holdings PBC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,989 shares of the pharmacy operator’s stock after selling 2,029 shares during the period. Tilt Investment Management Holdings PBC’s holdings in CVS Health were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NBW Capital LLC bought a new position in shares of CVS Health during the fourth quarter valued at approximately $206,000. Twin Capital Management Inc. boosted its position in CVS Health by 18.2% during the 4th quarter. Twin Capital Management Inc. now owns 34,662 shares of the pharmacy operator’s stock valued at $2,737,000 after acquiring an additional 5,335 shares in the last quarter. HF Advisory Group LLC increased its holdings in shares of CVS Health by 35.4% in the 4th quarter. HF Advisory Group LLC now owns 13,926 shares of the pharmacy operator’s stock valued at $1,100,000 after acquiring an additional 3,643 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of CVS Health by 2.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 43,503 shares of the pharmacy operator’s stock worth $3,434,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in CVS Health by 6.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 115,101 shares of the pharmacy operator’s stock valued at $9,088,000 after purchasing an additional 6,899 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE:CVS traded up $0.72 during midday trading on Thursday, reaching $69.32. The company’s stock had a trading volume of 5,390,641 shares, compared to its average volume of 10,830,836. The firm has a market capitalization of $87.38 billion, a PE ratio of 10.71, a P/E/G ratio of 0.91 and a beta of 0.52. The stock has a fifty day moving average of $75.53 and a 200 day moving average of $73.73. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share 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 during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the business posted $1.99 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.84%. CVS Health’s payout ratio is 41.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Royal Bank of Canada decreased their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Finally, HSBC started coverage on CVS Health in a research report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

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.