Clearstead Trust LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Clearstead Trust LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 868 shares of the pharmacy operator’s stock after selling 861 shares during the period. Clearstead Trust LLC’s holdings in CVS Health were worth $69,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Atticus Wealth Management LLC boosted its position in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC increased its stake in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners raised its holdings in CVS Health by 42.6% in the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in CVS Health in the 4th quarter worth approximately $50,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded up $0.75 during trading hours on Friday, reaching $55.90. The stock had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. The stock has a market capitalization of $70.18 billion, a PE ratio of 9.82, a PEG ratio of 0.88 and a beta of 0.56. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The company has a 50 day moving average price of $72.77 and a two-hundred day moving average price of $73.29. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the company earned $2.20 EPS. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Activity

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 value of $2,267,947.35. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of a number of research reports. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Royal Bank of Canada dropped their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. The Goldman Sachs Group reduced their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday. Mizuho dropped their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $87.00 to $58.00 in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $80.35.

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.