CVS Health Co. (NYSE:CVS) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP reduced its position in shares of CVS Health Co. (NYSE:CVS) by 69.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,735 shares of the pharmacy operator’s stock after selling 15,042 shares during the period. Stevens Capital Management LP’s holdings in CVS Health were worth $532,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVS. Atticus Wealth Management LLC boosted its stake in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the period. Cornerstone Planning Group LLC increased its stake in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC boosted its position in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners boosted its position in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in CVS Health in the 4th quarter valued at about $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS traded down $0.45 during midday trading on Thursday, reaching $67.32. The stock had a trading volume of 8,915,583 shares, compared to its average volume of 10,708,336. The firm has a 50 day simple moving average of $74.80 and a 200-day simple moving average of $73.72. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The firm has a market cap of $84.86 billion, a PE ratio of 10.36, a P/E/G ratio of 0.91 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Activity at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on CVS shares. Royal Bank of Canada dropped their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Piper Sandler raised their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.44.

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.