CVS Health Co. (NYSE:CVS) Position Reduced by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 89.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,833 shares of the pharmacy operator’s stock after selling 59,103 shares during the period. TrinityPoint Wealth LLC’s holdings in CVS Health were worth $307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in CVS Health during the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health during the fourth quarter worth approximately $29,000. Financial Perspectives Inc boosted its holdings in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. boosted its holdings in CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after buying an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new stake in CVS Health during the fourth quarter worth approximately $37,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. Wells Fargo & Company restated an “overweight” rating and set a $84.00 target price (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.94.

CVS Health Stock Up 3.4%

CVS stock opened at $62.51 on Monday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $79.07 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.98 and a beta of 0.60. The company has a 50 day moving average of $66.57 and a two-hundred day moving average of $59.24.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. CVS Health’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 EPS. On average, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.26%. CVS Health’s dividend payout ratio is currently 63.48%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65% increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is owned by insiders.

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.