Whittier Trust Co. of Nevada Inc. Has $680,000 Position in CVS Health Co. (NYSE:CVS)

Whittier Trust Co. of Nevada Inc. lowered its position in shares of CVS Health Co. (NYSE:CVS) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,142 shares of the pharmacy operator’s stock after selling 563 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in CVS Health were worth $680,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVS. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc boosted its holdings in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 2.1 %

Shares of CVS Health stock opened at $67.22 on Friday. 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 company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The firm’s 50-day moving average price is $60.60 and its two-hundred day moving average price is $57.35.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. On average, analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVS. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen increased their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $70.39.

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.