Elmwood Wealth Management Inc. Sells 7,262 Shares of CVS Health Co. (NYSE:CVS)

Elmwood Wealth Management Inc. trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 48.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,695 shares of the pharmacy operator’s stock after selling 7,262 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in CVS Health were worth $608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Weik Capital Management boosted its position in CVS Health by 0.7% during the 1st quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock valued at $1,781,000 after buying an additional 120 shares during the period. FCA Corp TX lifted its holdings in CVS Health by 0.6% in the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock worth $2,035,000 after buying an additional 122 shares during the period. Arvest Trust Co. N A grew its position in shares of CVS Health by 1.2% in the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock worth $1,040,000 after buying an additional 131 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in CVS Health by 4.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after acquiring an additional 133 shares during the period. Finally, Apella Capital LLC increased its position in CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after purchasing an additional 136 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVS shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. SVB Leerink assumed coverage on CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. HSBC began coverage on CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price target on the stock. Finally, Barclays initiated coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS traded up $0.58 during trading hours on Monday, hitting $69.22. The stock had a trading volume of 3,995,131 shares, compared to its average volume of 10,918,117. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The stock has a fifty day moving average price of $75.85 and a 200 day moving average price of $73.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm has a market capitalization of $87.25 billion, a PE ratio of 10.67, a PEG ratio of 0.91 and a beta of 0.52.

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

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

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.