CVS Health Co. (NYSE:CVS) Stake Reduced by Weil Company Inc.

Weil Company Inc. decreased its holdings in CVS Health Co. (NYSE:CVS) by 42.7% in the 4th quarter, HoldingsChannel reports. The firm owned 7,487 shares of the pharmacy operator’s stock after selling 5,578 shares during the quarter. Weil Company Inc.’s holdings in CVS Health were worth $591,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in CVS Health during the fourth quarter valued at about $1,092,040,000. FMR LLC boosted its stake in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC boosted its stake in CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares in the last quarter. International Assets Investment Management LLC boosted its stake in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after buying an additional 1,307,100 shares in the last quarter. Finally, Canoe Financial LP boosted its stake in CVS Health by 95.1% during the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after buying an additional 859,134 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research reports. Barclays decreased their price objective on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and set a $66.00 price target (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Bank of America cut their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.75.

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS traded down $1.79 on Thursday, reaching $55.65. 18,268,702 shares of the stock traded hands, compared to its average volume of 12,012,716. The firm has a market cap of $69.86 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 0.55 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The stock’s 50-day moving average price is $67.98 and its 200-day moving average price is $72.13.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. Equities analysts forecast that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

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.