UMB Bank n.a. Reduces Position in CVS Health Co. (NYSE:CVS)

UMB Bank n.a. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,143 shares of the pharmacy operator’s stock after selling 3,142 shares during the quarter. UMB Bank n.a.’s holdings in CVS Health were worth $3,249,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Webster Bank N. A. boosted its stake in shares of CVS Health by 1.4% during the fourth quarter. Webster Bank N. A. now owns 80,570 shares of the pharmacy operator’s stock valued at $6,362,000 after purchasing an additional 1,117 shares during the period. Regent Peak Wealth Advisors LLC lifted its stake in CVS Health by 3.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,162 shares of the pharmacy operator’s stock worth $329,000 after acquiring an additional 156 shares during the period. Insight Inv LLC lifted its stake in CVS Health by 0.8% in the fourth quarter. Insight Inv LLC now owns 18,315 shares of the pharmacy operator’s stock worth $1,446,000 after acquiring an additional 150 shares during the period. Drive Wealth Management LLC purchased a new stake in CVS Health in the fourth quarter worth $325,000. Finally, Great Point Wealth Advisors LLC purchased a new stake in CVS Health in the fourth quarter worth $279,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Piper Sandler raised their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. Royal Bank of Canada dropped their price target 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. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Price Performance

Shares of NYSE:CVS opened at $73.82 on Wednesday. CVS Health Co. has a 1-year low of $64.41 and a 1-year 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. The business has a fifty day moving average price of $76.00 and a 200-day moving average price of $73.72. The company has a market capitalization of $92.90 billion, a PE ratio of 11.43, a PEG ratio of 1.05 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued 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. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same period last year, the company earned $1.99 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated 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 completion of 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 legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by insiders.

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.