Meyer Handelman Co. Decreases Holdings in CVS Health Co. (NYSE:CVS)

Meyer Handelman Co. lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,961 shares of the pharmacy operator's stock after selling 30,850 shares during the quarter. Meyer Handelman Co.'s holdings in CVS Health were worth $5,553,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC boosted its stake in shares of CVS Health by 49.9% in the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator's stock worth $217,000 after acquiring an additional 1,610 shares during the period. Blue Trust Inc. grew its holdings in CVS Health by 56.1% during the 4th quarter. Blue Trust Inc. now owns 15,099 shares of the pharmacy operator's stock valued at $678,000 after buying an additional 5,426 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of CVS Health by 20.1% during the fourth quarter. Hantz Financial Services Inc. now owns 2,416 shares of the pharmacy operator's stock valued at $108,000 after buying an additional 404 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of CVS Health in the fourth quarter worth $369,000. Finally, SOL Capital Management CO grew its stake in CVS Health by 12.2% during the fourth quarter. SOL Capital Management CO now owns 79,790 shares of the pharmacy operator's stock valued at $3,582,000 after acquiring an additional 8,648 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated 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 sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on CVS shares. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Robert W. Baird lifted 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. Finally, Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

CVS Health Trading Down 0.7%

CVS stock traded down $0.45 during mid-day trading on Monday, reaching $63.60. 6,674,441 shares of the stock traded hands, compared to its average volume of 11,195,129. The business has a 50-day moving average price of $65.62 and a two-hundred day moving average price of $59.67. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market capitalization of $80.45 billion, a PE ratio of 17.38, a PEG ratio of 0.98 and a beta of 0.60. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

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.