Graypoint LLC Has $620,000 Stake in CVS Health Co. (NYSE:CVS)

Graypoint LLC lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 13.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,846 shares of the pharmacy operator’s stock after selling 1,184 shares during the period. Graypoint LLC’s holdings in CVS Health were worth $620,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVS. Moneta Group Investment Advisors LLC lifted its position in shares of CVS Health by 103,371.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after acquiring an additional 15,532,533 shares during the period. Norges Bank bought a new stake in CVS Health during the 4th quarter valued at $1,425,416,000. FMR LLC increased its stake in 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. Morgan Stanley increased its stake in CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after purchasing an additional 3,311,928 shares in the last quarter. Finally, Barclays PLC increased its stake in CVS Health by 97.8% during the 2nd quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock valued at $379,052,000 after purchasing an additional 2,711,102 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

CVS Health Trading Down 1.6 %

Shares of CVS Health stock opened at $68.64 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $75.85 and its 200-day moving average price is $73.76. The company has a market cap of $86.52 billion, a price-to-earnings ratio of 10.63, a PEG 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.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion for 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%. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.99 earnings per share. On average, equities analysts expect that CVS Health Co. will post 8.33 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 given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Wells Fargo & Company reduced their target price 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. Royal Bank of Canada cut their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday. Finally, 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 price target on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.