Trust Co. of Vermont increased its position in shares of CVS Health Co. (NYSE:CVS) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,002 shares of the pharmacy operator’s stock after buying an additional 10,569 shares during the period. Trust Co. of Vermont’s holdings in CVS Health were worth $11,435,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ShoreHaven Wealth Partners LLC bought a new stake in CVS Health during the 4th quarter worth about $25,000. Jackson Grant Investment Advisers Inc. raised its holdings in shares of CVS Health by 127.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 360 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. Greenhouse Wealth Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $26,000. Reby Advisors LLC bought a new position in shares of CVS Health in the fourth quarter valued at $34,000. Finally, Albion Financial Group UT bought a new position in shares of CVS Health in the fourth quarter valued at $35,000. 74.21% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on CVS shares. Guggenheim reiterated a “neutral” rating on shares of CVS Health in a research note on Tuesday, March 23rd. Truist raised their price objective on CVS Health from $80.00 to $88.00 in a report on Wednesday, April 14th. Morgan Stanley lifted their price target on CVS Health from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Friday, January 8th. Finally, Truist Securities boosted their target price on CVS Health from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, April 14th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $84.31.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Monday, February 15th. The pharmacy operator reported $1.30 EPS for the quarter, topping the consensus estimate of $1.24 by $0.06. The firm had revenue of $69.55 billion during the quarter, compared to analyst estimates of $68.67 billion. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. During the same quarter in the previous year, the business posted $1.73 EPS. As a group, equities analysts anticipate that CVS Health Co. will post 7.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.63%. The ex-dividend date is Thursday, April 22nd. CVS Health’s dividend payout ratio is presently 28.25%.
In other CVS Health news, SVP James David Clark sold 5,350 shares of the business’s stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $76.00, for a total transaction of $406,600.00. Also, CEO Larry J. Merlo sold 62,893 shares of the business’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $77.00, for a total transaction of $4,842,761.00. Following the sale, the chief executive officer now directly owns 586,222 shares in the company, valued at approximately $45,139,094. The disclosure for this sale can be found here. In the last three months, insiders have sold 543,362 shares of company stock worth $40,797,273. 0.46% of the stock is owned by insiders.
About CVS Health
CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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