Westbourne Investment Advisors Inc. Sells 865 Shares of CVS Health Co. (NYSE:CVS)

Westbourne Investment Advisors Inc. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,669 shares of the pharmacy operator’s stock after selling 865 shares during the period. Westbourne Investment Advisors Inc.’s holdings in CVS Health were worth $448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Vanguard Group Inc. boosted its position in shares of CVS Health by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock worth $8,180,295,000 after purchasing an additional 485,744 shares during the last quarter. State Street Corp lifted its stake in CVS Health by 1.6% during the second quarter. State Street Corp now owns 55,877,387 shares of the pharmacy operator’s stock worth $3,862,804,000 after purchasing an additional 855,269 shares during the last quarter. Morgan Stanley increased its holdings in shares of CVS Health by 10.9% during the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after buying an additional 3,311,928 shares in the last quarter. FMR LLC increased its holdings in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its holdings in CVS Health by 103,371.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after purchasing an additional 15,532,533 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CVS shares. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Piper Sandler boosted their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 target price on shares of CVS Health in a report on Thursday, February 8th. SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Finally, HSBC started coverage on CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.21.

CVS Health Stock Performance

Shares of CVS Health stock traded up $0.31 on Thursday, hitting $79.74. 4,593,387 shares of the company’s stock were exchanged, compared to its average volume of 11,223,246. The company has a 50-day simple moving average of $75.61 and a 200-day simple moving average of $73.42. The stock has a market capitalization of $100.35 billion, a PE ratio of 12.44, a PEG ratio of 1.05 and a beta of 0.51. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the previous year, the firm posted $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.34%. CVS Health’s payout ratio is presently 41.18%.

Insider Buying and Selling

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.