W.H. Cornerstone Investments Inc. Sells 563 Shares of CVS Health Co. (NYSE:CVS)

W.H. Cornerstone Investments Inc. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 12.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,033 shares of the pharmacy operator’s stock after selling 563 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in CVS Health were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Atticus Wealth Management LLC grew its holdings 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 worth $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC increased its stake 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 valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC lifted its position in shares of CVS Health by 400.0% in the fourth 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 boosted its stake in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of CVS Health during the 4th quarter worth about $50,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

CVS Health Trading Up 1.4 %

NYSE:CVS traded up $0.75 during mid-day trading on Friday, hitting $55.90. 23,946,075 shares of the company’s stock were exchanged, compared to its average volume of 12,498,538. The company has a 50 day simple moving average of $72.77 and a 200-day simple moving average of $73.29. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $70.18 billion, a P/E ratio of 9.82, a PEG ratio of 0.88 and a beta of 0.56. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that CVS Health Co. will post 7.03 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 paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CVS shares. Barclays lowered 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. Mizuho reduced their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $87.00 to $58.00 in a research report on Wednesday. The Goldman Sachs Group lowered their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $80.35.

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.