CVS Health Co. (NYSE:CVS) Position Lessened by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC cut its position in CVS Health Co. (NYSE:CVS) by 39.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,043 shares of the pharmacy operator’s stock after selling 5,152 shares during the quarter. CVS Health comprises 0.6% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 26th biggest position. Blodgett Wealth Advisors LLC’s holdings in CVS Health were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. SOA Wealth Advisors LLC. raised its position 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. Apella Capital LLC boosted its position in CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares during the period. Prairie Sky Financial Group LLC grew its position in shares of CVS Health by 4.1% in the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after purchasing an additional 141 shares in the last quarter. WealthShield Partners LLC raised its stake in shares of CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after purchasing an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC boosted its stake in CVS Health by 9.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.2 %

CVS stock traded down $0.15 during midday trading on Friday, hitting $67.18. The company had a trading volume of 6,396,438 shares, compared to its average volume of 8,376,818. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The stock has a market cap of $84.68 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. The stock’s 50 day moving average price is $74.42 and its 200 day moving average price is $73.64.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 EPS. As a group, equities research analysts expect that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. SVB Leerink started 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Royal Bank of Canada lowered their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Barclays started coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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.