CVS Health Co. (NYSE:CVS) Shares Purchased by Mechanics Financial Corp

Mechanics Financial Corp raised its stake in CVS Health Co. (NYSE:CVS) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,285 shares of the pharmacy operator’s stock after buying an additional 339 shares during the period. Mechanics Financial Corp’s holdings in CVS Health were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVS. Atticus Wealth Management LLC boosted its position in CVS Health by 149.0% during the fourth 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 boosted its position in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares in the last quarter. ZRC Wealth Management LLC increased its holdings 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 acquiring an additional 400 shares in the last quarter. Coston McIsaac & Partners grew its position in shares of CVS Health by 42.6% in the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in CVS Health during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock traded down $1.84 during trading hours on Thursday, reaching $54.47. The stock had a trading volume of 19,901,070 shares, compared to its average volume of 11,384,987. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm has a 50-day simple moving average of $73.63 and a 200-day simple moving average of $73.50. The firm has a market capitalization of $68.66 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. CVS Health Co. has a twelve month low of $53.70 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on CVS shares. Barclays dropped their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday. Wells Fargo & Company cut 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. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a research note on Thursday. Royal Bank of Canada reduced their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $58.00 in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $80.53.

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.