Fiduciary Trust Co Has $4 Million Stock Position in CVS Health Co. (NYSE:CVS)

Fiduciary Trust Co decreased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,134 shares of the pharmacy operator's stock after selling 19,017 shares during the quarter. Fiduciary Trust Co's holdings in CVS Health were worth $4,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG increased its position in CVS Health by 46.0% in the 4th quarter. Deutsche Bank AG now owns 4,379,753 shares of the pharmacy operator's stock valued at $196,607,000 after acquiring an additional 1,379,932 shares in the last quarter. Dimension Capital Management LLC bought a new position in CVS Health in the fourth quarter valued at approximately $342,000. Collar Capital Management LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $520,000. CoreCap Advisors LLC lifted its position in CVS Health by 18.6% during the fourth quarter. CoreCap Advisors LLC now owns 4,328 shares of the pharmacy operator's stock worth $194,000 after acquiring an additional 679 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in CVS Health by 2.1% in the fourth quarter. Cetera Investment Advisers now owns 318,779 shares of the pharmacy operator's stock valued at $14,310,000 after acquiring an additional 6,524 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the topic of several analyst reports. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Edward Jones raised CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Evercore ISI boosted their price objective on shares of 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 lifted their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday. Finally, Robert W. Baird increased their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.94.

CVS Health Stock Down 0.4%

Shares of NYSE CVS traded down $0.22 during mid-day trading on Thursday, reaching $59.82. The company had a trading volume of 6,580,125 shares, compared to its average volume of 11,450,713. The stock has a market capitalization of $75.67 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The stock's 50 day moving average is $66.71 and its 200-day moving average is $59.15.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Insider Activity at CVS Health

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

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.