DekaBank Deutsche Girozentrale Sells 23,288 Shares of CVS Health Co. (NYSE:CVS)

DekaBank Deutsche Girozentrale trimmed its holdings in CVS Health Co. (NYSE:CVS) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,773,992 shares of the pharmacy operator’s stock after selling 23,288 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.14% of CVS Health worth $140,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bryn Mawr Capital Management LLC boosted its stake in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after acquiring an additional 18,385 shares during the last quarter. Value Partners Investments Inc. boosted its stake in CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after acquiring an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC grew its holdings in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after purchasing an additional 774 shares during the period. Checchi Capital Advisers LLC increased its stake in CVS Health by 2.3% in the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its position in shares of CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after purchasing an additional 491 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen reduced their target price on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a report on Monday, December 11th. Royal Bank of Canada cut their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Piper Sandler upped their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Performance

Shares of CVS stock traded up $0.68 on Friday, reaching $74.58. The stock had a trading volume of 6,351,084 shares, compared to its average volume of 8,640,665. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $93.86 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.99 and a beta of 0.52. The firm’s 50-day moving average is $76.08 and its two-hundred day moving average is $73.76.

CVS Health (NYSE:CVS) last released its quarterly earnings data 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. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.99 earnings per share. On average, research analysts expect that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced 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. This represents a $2.66 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Insider Transactions at CVS Health

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