Evermay Wealth Management LLC Has $207,000 Stock Position in CVS Health Co. (NYSE:CVS)

Evermay Wealth Management LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,592 shares of the pharmacy operator’s stock after selling 735 shares during the quarter. Evermay Wealth Management LLC’s holdings in CVS Health were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVS. Atticus Wealth Management LLC increased its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the period. USA Financial Formulas raised its stake in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter worth $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health during the fourth quarter worth $34,000. Finally, Steph & Co. increased its holdings in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 0.2 %

CVS stock traded up $0.11 during midday trading on Thursday, reaching $58.65. The stock had a trading volume of 7,811,954 shares, compared to its average volume of 11,589,592. The firm has a market cap of $73.63 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.55 and a beta of 0.52. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $58.78 and a two-hundred day simple moving average of $67.61.

CVS Health (NYSE:CVS) last issued 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). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts expect that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America decreased their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Mizuho dropped their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and decreased their price target for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research note on Tuesday. Finally, Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.