Twin Lakes Capital Management LLC reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 42.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,223 shares of the pharmacy operator's stock after selling 12,478 shares during the quarter. Twin Lakes Capital Management LLC's holdings in CVS Health were worth $773,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the period. Financial Perspectives Inc lifted its stake in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after buying an additional 466 shares during the period. Finally, Compass Planning Associates Inc acquired a new position in CVS Health in the fourth quarter valued at approximately $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. JPMorgan Chase & Co. raised their target price on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Barclays increased their price target on CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada upped their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Three investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.94.
Check Out Our Latest Analysis on CVS Health
CVS Health Stock Up 0.8%
NYSE:CVS traded up $0.50 during trading hours on Tuesday, hitting $61.33. 7,438,851 shares of the company traded hands, compared to its average volume of 11,313,892. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $77.58 billion, a PE ratio of 16.76, a PEG ratio of 0.98 and a beta of 0.60. The firm's 50-day simple moving average is $66.01 and its 200-day simple moving average is $59.45.
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 business 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 firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. Equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.
CVS Health Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 63.48%.
Insider Activity at CVS Health
In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by company insiders.
CVS Health Company Profile
(
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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