CVS Health Corporation (NYSE:CVS) Shares Sold by MONECO Advisors LLC

Key Points

• MONECO Advisors LLC reduced its stake in CVS Health Corporation by 46.7% during the first quarter, bringing its total holdings to 9,968 shares valued at $675,000.
• A recent transaction revealed that Director Guy P. Sansone acquired 1,570 shares at an average cost of $63.70, increasing his ownership by 15.04%.
• CVS Health reported earnings of $1.81 per share for the last quarter, surpassing analysts' expectations by $0.35 and showing an 8.4% revenue increase compared to the previous year.

MONECO Advisors LLC trimmed its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 46.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,968 shares of the pharmacy operator's stock after selling 8,744 shares during the period. MONECO Advisors LLC's holdings in CVS Health were worth $675,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. OneAscent Financial Services LLC increased its stake in CVS Health by 22.7% in the 4th quarter. OneAscent Financial Services LLC now owns 6,027 shares of the pharmacy operator's stock worth $271,000 after purchasing an additional 1,117 shares during the period. World Investment Advisors boosted its position in shares of CVS Health by 16.0% during the fourth quarter. World Investment Advisors now owns 31,947 shares of the pharmacy operator's stock valued at $1,434,000 after purchasing an additional 4,404 shares in the last quarter. Motley Fool Asset Management LLC grew its position in shares of CVS Health by 14.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 65,668 shares of the pharmacy operator's stock worth $2,948,000 after buying an additional 8,198 shares during the period. ExodusPoint Capital Management LP purchased a new position in CVS Health during the fourth quarter valued at $11,437,000. Finally, Landscape Capital Management L.L.C. increased its stake in CVS Health by 55.9% during the 4th quarter. Landscape Capital Management L.L.C. now owns 117,729 shares of the pharmacy operator's stock valued at $5,285,000 after purchasing an additional 42,205 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.7%

Shares of NYSE:CVS traded up $0.42 on Friday, reaching $62.52. The company had a trading volume of 11,376,286 shares, compared to its average volume of 9,079,778. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The firm has a market capitalization of $79.30 billion, a PE ratio of 17.46, a PEG ratio of 0.86 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm's 50 day simple moving average is $64.56 and its 200-day simple moving average is $64.01.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.83 earnings per share. As a group, analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVS shares. Morgan Stanley increased their price objective on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday. Truist Financial raised their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. UBS Group decreased their target price on CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 22nd. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada upped their target price on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.11.

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.