Legacy Capital Wealth Partners LLC Has $709,000 Position in CVS Health Co. (NYSE:CVS)

Legacy Capital Wealth Partners LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,982 shares of the pharmacy operator’s stock after selling 1,055 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in CVS Health were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Vanguard Group Inc. raised its position in CVS Health by 0.4% during the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock valued at $8,180,295,000 after acquiring an additional 485,744 shares in the last quarter. FMR LLC raised its holdings in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Northern Trust Corp boosted its holdings in CVS Health by 2.2% in the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after purchasing an additional 305,564 shares in the last quarter. Royal Bank of Canada increased its position in CVS Health by 2.2% during the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after buying an additional 303,512 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,717,825 shares of the pharmacy operator’s stock valued at $864,821,000 after buying an additional 324,391 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Piper Sandler raised their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Trading Down 0.2 %

CVS opened at $67.18 on Monday. The firm has a 50 day simple moving average of $74.42 and a 200 day simple moving average of $73.67. The company has a market cap of $84.68 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 earnings per share 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 paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date 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.