Webster Bank N. A. lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,382 shares of the pharmacy operator's stock after selling 4,808 shares during the period. Webster Bank N. A.'s holdings in CVS Health were worth $568,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Whitebox Advisors LLC purchased a new position in CVS Health in the fourth quarter valued at about $249,000. B&D White Capital Company LLC purchased a new position in CVS Health in the fourth quarter valued at about $417,000. Fairfax Financial Holdings Ltd. Can purchased a new position in CVS Health in the fourth quarter valued at about $121,742,000. Lazard Asset Management LLC grew its stake in CVS Health by 7.3% in the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock valued at $192,617,000 after purchasing an additional 293,406 shares during the last quarter. Finally, Seizert Capital Partners LLC grew its stake in CVS Health by 22.8% in the fourth quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator's stock valued at $25,566,000 after purchasing an additional 105,708 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.
CVS Health Price Performance
Shares of CVS stock traded down $0.45 during trading hours on Monday, hitting $63.60. 6,674,441 shares of the company's stock were exchanged, compared to its average volume of 11,195,129. 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 firm has a market cap of $80.45 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.60. The firm has a 50 day moving average of $65.62 and a two-hundred day moving average of $59.67. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.
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 for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.
CVS Health Announces Dividend
The company also recently declared 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 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CVS. Barclays dropped their price target on CVS Health from $82.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Wells Fargo & Company restated an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Robert W. Baird boosted their price target on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.75.
Get Our Latest Analysis on CVS
Insider Buying and Selling
In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is 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.
Further Reading
Before you consider CVS Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.
While CVS Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
