Buffington Mohr McNeal Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Buffington Mohr McNeal trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,218 shares of the pharmacy operator’s stock after selling 1,625 shares during the period. Buffington Mohr McNeal’s holdings in CVS Health were worth $1,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Asset Strategies Inc. raised its position in CVS Health by 29.8% in the 4th quarter. United Asset Strategies Inc. now owns 9,506 shares of the pharmacy operator’s stock valued at $751,000 after purchasing an additional 2,181 shares in the last quarter. First American Trust FSB raised its position in CVS Health by 2.3% in the 4th quarter. First American Trust FSB now owns 84,971 shares of the pharmacy operator’s stock valued at $6,709,000 after purchasing an additional 1,895 shares in the last quarter. Grant GrossMendelsohn LLC raised its position in CVS Health by 21.5% in the 4th quarter. Grant GrossMendelsohn LLC now owns 11,112 shares of the pharmacy operator’s stock valued at $811,000 after purchasing an additional 1,970 shares in the last quarter. Crescent Grove Advisors LLC raised its position in shares of CVS Health by 30.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 4,893 shares of the pharmacy operator’s stock worth $386,000 after acquiring an additional 1,136 shares in the last quarter. Finally, LifePlan Financial LLC acquired a new stake in shares of CVS Health during the 4th quarter worth about $1,581,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. HSBC initiated coverage on CVS Health in a research report on Friday, December 22nd. They set a “buy” rating and a $94.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. SVB Leerink assumed coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Finally, Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.54 on Tuesday, hitting $69.50. The company had a trading volume of 5,309,911 shares, compared to its average volume of 10,882,771. 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 business has a 50 day moving average of $75.78 and a 200 day moving average of $73.78. The company has a market cap of $87.60 billion, a PE ratio of 10.86, a PEG ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its earnings results 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. 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 for the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the prior year, the business posted $1.99 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.83%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

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.