Wesbanco Bank Inc. boosted its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,197 shares of the pharmacy operator's stock after buying an additional 37,104 shares during the quarter. Wesbanco Bank Inc.'s holdings in CVS Health were worth $17,403,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atticus Wealth Management LLC lifted its holdings in CVS Health by 149.0% during the 4th 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. USA Financial Formulas grew its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock valued at $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health during the fourth quarter worth approximately $34,000. Finally, Steph & Co. grew its position in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 80.66% of the company's stock.
CVS Health Stock Performance
Shares of CVS stock traded down $1.16 during trading on Thursday, hitting $55.15. The company's stock had a trading volume of 37,808,624 shares, compared to its average volume of 11,608,837. The business has a fifty day moving average of $73.19 and a 200-day moving average of $73.37. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The company has a market cap of $69.52 billion, a PE ratio of 8.54, a P/E/G ratio of 0.90 and a beta of 0.56.
CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to analysts' expectations of $89.33 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 earnings per share. As a group, research analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current year.
CVS Health Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, April 19th. CVS Health's dividend payout ratio is currently 41.18%.
Insider Transactions at CVS Health
In other news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company's stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the firm's stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company's stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on CVS shares. Mizuho reduced their price target on CVS Health from $86.00 to $72.00 and set a "buy" rating on the stock in a research report on Thursday. UBS Group cut shares of CVS Health from a "buy" rating to a "neutral" rating and decreased their price target for the company from $85.00 to $60.00 in a research report on Thursday. Cantor Fitzgerald downgraded CVS Health from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $87.00 to $58.00 in a research report on Wednesday. Piper Sandler upped their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. Finally, Truist Financial reaffirmed a "buy" rating and set a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $80.35.
Check Out Our Latest Stock Report on CVS
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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