Waters Parkerson & CO. LLC decreased its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 91.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,741 shares of the pharmacy operator's stock after selling 133,082 shares during the quarter. Waters Parkerson & CO. LLC's holdings in CVS Health were worth $572,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. St. Clair Advisors LLC acquired a new position in shares of CVS Health during the 4th quarter valued at $269,000. Triglav Skladi D.O.O. acquired a new position in CVS Health during the fourth quarter worth $7,904,000. Twinbeech Capital LP bought a new position in shares of CVS Health in the fourth quarter valued at $62,073,000. Shay Capital LLC bought a new stake in shares of CVS Health during the fourth quarter worth about $641,000. Finally, Rafferty Asset Management LLC lifted its position in CVS Health by 11.9% in the 4th quarter. Rafferty Asset Management LLC now owns 142,717 shares of the pharmacy operator's stock valued at $6,407,000 after acquiring an additional 15,126 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.
CVS Health Stock Performance
CVS Health stock traded down $1.95 during mid-day trading on Thursday, reaching $60.16. The company's stock had a trading volume of 10,041,157 shares, compared to its average volume of 11,371,746. The firm's fifty day moving average price is $66.41 and its two-hundred day moving average price is $59.34. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a market capitalization of $76.10 billion, a P/E ratio of 16.44, a PEG 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 (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the previous year, the business posted $1.31 earnings per share. CVS Health's revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.
CVS Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.42%. CVS Health's dividend payout ratio is currently 63.48%.
Insider Buying and Selling
In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction 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 sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.22% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on CVS. Mizuho raised their target price on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Barclays upped their price objective on shares of CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $74.94.
Get Our Latest Stock Analysis on CVS Health
About CVS Health
(
Free Report)
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.
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