CVS Health Co. (NYSE:CVS) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd decreased its holdings in CVS Health Co. (NYSE:CVS) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,395 shares of the pharmacy operator’s stock after selling 2,650 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in CVS Health were worth $1,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CVS. Wealth Enhancement Advisory Services LLC grew its stake in shares of CVS Health by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator’s stock worth $7,795,000 after purchasing an additional 2,256 shares in the last quarter. Graypoint LLC grew its stake in shares of CVS Health by 15.2% during the fourth quarter. Graypoint LLC now owns 5,187 shares of the pharmacy operator’s stock worth $233,000 after purchasing an additional 683 shares in the last quarter. Czech National Bank grew its stake in shares of CVS Health by 6.4% during the fourth quarter. Czech National Bank now owns 272,854 shares of the pharmacy operator’s stock worth $12,248,000 after purchasing an additional 16,424 shares in the last quarter. Brookstone Capital Management grew its stake in shares of CVS Health by 10.9% during the fourth quarter. Brookstone Capital Management now owns 69,420 shares of the pharmacy operator’s stock worth $3,116,000 after purchasing an additional 6,831 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in shares of CVS Health by 3.8% during the fourth quarter. Moody National Bank Trust Division now owns 24,185 shares of the pharmacy operator’s stock worth $1,086,000 after purchasing an additional 885 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 1.3%

NYSE CVS opened at $66.98 on Monday. The stock has a market capitalization of $84.73 billion, a P/E ratio of 18.30, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The firm has a 50-day moving average price of $66.96 and a 200 day moving average price of $59.06. 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 (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.97%. CVS Health’s dividend payout ratio is currently 63.48%.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Mizuho boosted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Piper Sandler boosted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Cowen reissued a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $74.81.

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.