CVS Health Co. (NYSE:CVS) Stake Lessened by Whittier Trust Co.

Whittier Trust Co. decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 42.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,343 shares of the pharmacy operator’s stock after selling 13,047 shares during the period. Whittier Trust Co.’s holdings in CVS Health were worth $778,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CVS. Segall Bryant & Hamill LLC bought a new stake in CVS Health during the third quarter valued at $1,847,000. Intech Investment Management LLC increased its stake in CVS Health by 70.5% during the third quarter. Intech Investment Management LLC now owns 96,520 shares of the pharmacy operator’s stock valued at $6,069,000 after purchasing an additional 39,919 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of CVS Health during the third quarter valued at $2,795,000. Biltmore Family Office LLC acquired a new position in shares of CVS Health during the third quarter valued at $212,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter valued at $942,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE CVS opened at $67.22 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $84.75 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. The firm has a 50-day moving average of $60.60 and a two-hundred day moving average of $57.35.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Argus set a $77.00 price target on shares of CVS Health in a report on Tuesday, February 18th. Truist Financial boosted their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Finally, Barclays upped their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.39.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

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.