Avalon Trust Co Decreases Position in CVS Health Co. (NYSE:CVS)

Avalon Trust Co lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,785 shares of the pharmacy operator’s stock after selling 835 shares during the quarter. CVS Health accounts for about 2.2% of Avalon Trust Co’s portfolio, making the stock its 13th largest position. Avalon Trust Co’s holdings in CVS Health were worth $23,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. FMR LLC lifted its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in CVS Health by 49.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after purchasing an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in CVS Health in the third quarter valued at approximately $34,379,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS stock traded up $0.75 during trading on Friday, reaching $55.90. 23,946,075 shares of the company were exchanged, compared to its average volume of 12,498,538. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. The company has a market cap of $70.18 billion, a P/E ratio of 9.82, a PEG ratio of 0.86 and a beta of 0.56. The stock’s 50 day moving average price is $72.77 and its 200 day moving average price is $73.26.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.76%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the company’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 transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVS. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $60.00 in a report on Thursday. Wells Fargo & Company decreased their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Leerink Partnrs downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays dropped their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.35.

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.