CVS Health Co. (NYSE:CVS) Stake Lowered by EP Wealth Advisors LLC

EP Wealth Advisors LLC decreased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,918 shares of the pharmacy operator's stock after selling 19,416 shares during the quarter. EP Wealth Advisors LLC's holdings in CVS Health were worth $4,710,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CVS. Coppell Advisory Solutions LLC grew its holdings in CVS Health by 17.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after purchasing an additional 189 shares during the period. EagleClaw Capital Managment LLC lifted its position in CVS Health by 3.4% during the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after buying an additional 200 shares in the last quarter. Manchester Capital Management LLC raised its position in CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock valued at $200,000 after purchasing an additional 204 shares during the period. Angeles Investment Advisors LLC raised its position in CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after purchasing an additional 204 shares during the period. Finally, Rogco LP raised its position in CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

CVS Health stock traded down $4.31 during mid-day trading on Tuesday, hitting $60.50. 19,042,104 shares of the company were exchanged, compared to its average volume of 11,479,177. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business's 50 day simple moving average is $66.93 and its two-hundred day simple moving average is $59.12. The company has a market capitalization of $76.53 billion, a P/E ratio of 16.53, a PEG ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 earnings per share. Analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on CVS. Piper Sandler boosted their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

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.