Sanibel Captiva Trust Company Inc. Cuts Position in CVS Health Co. (NYSE:CVS)

Sanibel Captiva Trust Company Inc. decreased its position in CVS Health Co. (NYSE:CVS) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,119 shares of the pharmacy operator’s stock after selling 16,277 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in CVS Health were worth $1,973,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CVS. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the fourth quarter valued at $29,000. McIlrath & Eck LLC increased its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Financial Perspectives Inc increased its stake in 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 acquiring an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its position in CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $64.21 on Wednesday. The company’s 50 day simple moving average is $65.06 and its 200-day simple moving average is $60.01. The company has a market capitalization of $81.22 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

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

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s payout ratio is 63.48%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVS. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Robert W. Baird raised their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Finally, Piper Sandler raised 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. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.75.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% 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.