Everence Capital Management Inc. Cuts Stake in CVS Health Co. (NYSE:CVS)

Everence Capital Management Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 43,164 shares of the pharmacy operator’s stock after selling 440 shares during the quarter. Everence Capital Management Inc.’s holdings in CVS Health were worth $3,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Live Oak Investment Partners purchased a new position in CVS Health in the fourth quarter valued at about $25,000. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new position in CVS Health in the second quarter valued at approximately $37,000. Finally, ZRC Wealth Management LLC lifted its holdings in CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Up 0.1 %

NYSE:CVS traded up $0.07 during trading hours on Tuesday, hitting $69.03. The company had a trading volume of 9,591,628 shares, compared to its average volume of 10,944,301. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $75.78 and a 200 day moving average of $73.78. The company has a market cap of $87.01 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last issued 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 analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.99 EPS. Sell-side analysts expect that CVS Health Co. will post 8.33 earnings per share for the current year.

CVS Health Dividend Announcement

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 paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVS shares. Royal Bank of Canada decreased their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. HSBC assumed coverage on CVS Health in a research report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective for the company. Finally, Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $89.44.

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.