CVS Health Co. (NYSE:CVS) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 85,415 shares of the pharmacy operator’s stock after selling 4,385 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in CVS Health were worth $5,834,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Greenhouse Wealth Management LLC acquired a new position in CVS Health in the fourth quarter valued at about $26,000. CVA Family Office LLC lifted its position in CVS Health by 173.7% in the third quarter. CVA Family Office LLC now owns 457 shares of the pharmacy operator’s stock valued at $27,000 after buying an additional 290 shares during the last quarter. West Financial Advisors LLC acquired a new position in CVS Health in the fourth quarter valued at about $36,000. Liberty Wealth Management LLC lifted its position in CVS Health by 108.9% in the third quarter. Liberty Wealth Management LLC now owns 631 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 329 shares during the last quarter. Finally, Selective Wealth Management Inc. acquired a new position in CVS Health in the fourth quarter valued at about $40,000. 74.21% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on the stock. Jefferies Financial Group raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Friday, January 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, November 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. Piper Sandler boosted their price target on shares of CVS Health from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 11th. Finally, SVB Leerink boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “market perform” rating in a research note on Monday, December 14th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. CVS Health presently has a consensus rating of “Buy” and an average target price of $82.08.

In related news, CEO Larry J. Merlo sold 62,893 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $77.00, for a total transaction of $4,842,761.00. Following the sale, the chief executive officer now directly owns 586,222 shares in the company, valued at $45,139,094. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 17th. The shares were purchased at an average price of $72.00 per share, for a total transaction of $216,000.00. Insiders have sold 113,906 shares of company stock worth $8,719,090 over the last 90 days. Insiders own 0.46% of the company’s stock.

Shares of CVS stock traded down $0.61 during trading hours on Tuesday, reaching $69.87. 110,030 shares of the stock were exchanged, compared to its average volume of 7,151,497. The business’s fifty day moving average is $73.45 and its two-hundred day moving average is $66.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. CVS Health Co. has a 12-month low of $52.04 and a 12-month high of $77.23. The firm has a market capitalization of $91.62 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.72 and a beta of 0.82.

CVS Health (NYSE:CVS) last released its earnings results on Monday, February 15th. The pharmacy operator reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.06. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. During the same quarter last year, the business earned $1.73 EPS. As a group, equities research analysts predict that CVS Health Co. will post 7.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 1st. Investors of record on Friday, January 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.86%. CVS Health’s payout ratio is 28.25%.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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