Clifford Swan Investment Counsel LLC Sells 187 Shares of CVS Health Co. (NYSE:CVS)

Clifford Swan Investment Counsel LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,276 shares of the pharmacy operator’s stock after selling 187 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in CVS Health were worth $417,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Concord Wealth Partners boosted its stake in CVS Health by 3.4% in the third quarter. Concord Wealth Partners now owns 5,229 shares of the pharmacy operator’s stock valued at $365,000 after acquiring an additional 170 shares in the last quarter. Everhart Financial Group Inc. acquired a new position in CVS Health during the 3rd quarter valued at about $253,000. Lindbrook Capital LLC raised its stake in CVS Health by 7.2% in the third quarter. Lindbrook Capital LLC now owns 6,662 shares of the pharmacy operator’s stock valued at $465,000 after buying an additional 445 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in CVS Health by 17.4% in the third quarter. Verdence Capital Advisors LLC now owns 14,668 shares of the pharmacy operator’s stock worth $1,024,000 after acquiring an additional 2,170 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CVS Health by 3.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 414,042 shares of the pharmacy operator’s stock valued at $28,908,000 after acquiring an additional 13,189 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS traded up $0.07 during midday trading on Monday, hitting $55.97. 16,612,170 shares of the company traded hands, compared to its average volume of 11,808,347. The company has a market capitalization of $70.26 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.88 and a beta of 0.56. The business has a 50 day simple moving average of $72.77 and a two-hundred day simple moving average of $73.29. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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 firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 earnings per share. On average, equities analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were 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 directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVS. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $60.00 in a report on Thursday. Piper Sandler lifted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Truist Financial reiterated a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Profile

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.