Western Wealth Management LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Western Wealth Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 6.5% in the fourth quarter, Holdings Channel reports. The fund owned 34,536 shares of the pharmacy operator’s stock after selling 2,412 shares during the quarter. Western Wealth Management LLC’s holdings in CVS Health were worth $2,727,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock valued at $38,245,000 after purchasing an additional 181,966 shares in the last quarter. United Bank raised its position in shares of CVS Health by 7.2% in the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock valued at $1,888,000 after purchasing an additional 1,260 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of CVS Health by 4,063.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock valued at $1,222,000 after purchasing an additional 11,785 shares in the last quarter. Zions Bancorporation N.A. raised its position in shares of CVS Health by 116.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after purchasing an additional 1,386 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of CVS Health in the 1st quarter valued at approximately $1,551,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the company’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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVS shares. Barclays started coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Piper Sandler upped their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Price Performance

CVS traded up $0.73 during trading on Friday, hitting $69.46. The company’s stock had a trading volume of 1,256,831 shares, compared to its average volume of 10,763,493. The firm’s 50 day moving average price is $75.42 and its two-hundred day moving average price is $73.70. The stock has a market capitalization of $87.55 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. 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.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period last year, the firm earned $1.99 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.83%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.