Fiduciary Trust Co Sells 19,017 Shares of CVS Health Co. (NYSE:CVS)

Fiduciary Trust Co reduced its position in CVS Health Co. (NYSE:CVS) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,134 shares of the pharmacy operator’s stock after selling 19,017 shares during the quarter. Fiduciary Trust Co’s holdings in CVS Health were worth $4,001,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Dodge & Cox raised its position in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Capital World Investors increased its holdings in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CVS Health by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after buying an additional 689,867 shares in the last quarter. Capital International Investors grew its position in shares of CVS Health by 4.8% during the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator’s stock worth $1,196,989,000 after buying an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction dated 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 in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $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. 1.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CVS shares. Piper Sandler raised their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Truist Financial boosted their target price on CVS Health from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $84.00 price target (up previously from $76.00) on shares of CVS Health in a research report on Tuesday. Three investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.81.

CVS Health Stock Performance

Shares of CVS Health stock opened at $66.98 on Friday. The firm has a market capitalization of $84.45 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. 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 business’s fifty day simple moving average is $66.96 and its 200 day simple moving average is $59.03. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.31 earnings per share. As a group, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. 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 payout ratio is 63.48%.

CVS Health Company 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.