Trivant Custom Portfolio Group LLC Sells 39,644 Shares of CVS Health Co. (NYSE:CVS)

Trivant Custom Portfolio Group LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 98.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 465 shares of the pharmacy operator's stock after selling 39,644 shares during the quarter. Trivant Custom Portfolio Group LLC's holdings in CVS Health were worth $37,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVS. Live Oak Investment Partners acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $25,000. Atticus Wealth Management LLC increased its holdings in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 243 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in shares of CVS Health in the second quarter valued at approximately $37,000. Finally, ZRC Wealth Management LLC increased its holdings in shares of CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the subject of several recent research reports. StockNews.com cut CVS Health from a "buy" rating to a "hold" rating in a report on Thursday, February 15th. Barclays started coverage on CVS Health in a research note on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 target price for the company. Royal Bank of Canada cut their target price on CVS Health from $86.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, February 8th. HSBC started coverage on CVS Health in a research note on Friday, December 22nd. They set a "buy" rating and a $94.00 target price for the company. Finally, Leerink Partnrs reissued an "outperform" rating on shares of CVS Health in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $89.44.

CVS Health Stock Down 0.2 %

Shares of CVS stock traded down $0.12 during trading hours on Monday, hitting $74.46. 6,496,014 shares of the company were exchanged, compared to its average volume of 11,188,963. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The business's 50-day simple moving average is $76.09 and its two-hundred day simple moving average is $73.80. The stock has a market capitalization of $93.70 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.99 and a beta of 0.52.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business had revenue of $93.81 billion for the quarter, compared to analysts' expectations of $90.58 billion. During the same quarter last year, the company posted $1.99 earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health's dividend payout ratio is currently 41.18%.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.