Cardinal Strategic Wealth Guidance Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Cardinal Strategic Wealth Guidance cut its position in CVS Health Co. (NYSE:CVS) by 22.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,730 shares of the pharmacy operator’s stock after selling 810 shares during the quarter. Cardinal Strategic Wealth Guidance’s holdings in CVS Health were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Live Oak Investment Partners bought a new position in CVS Health during the 4th quarter valued at $25,000. Atticus Wealth Management LLC raised its holdings in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the period. Cornerstone Planning Group LLC raised its holdings in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the period. PCA Investment Advisory Services Inc. acquired a new stake in shares of CVS Health during the second quarter worth $37,000. Finally, ZRC Wealth Management LLC raised its holdings in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price on the stock. HSBC began coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Wells Fargo & Company dropped their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Up 0.8 %

Shares of CVS stock traded up $0.52 during trading on Tuesday, hitting $69.48. 3,925,776 shares of the company were exchanged, compared to its average volume of 10,862,168. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The firm has a market capitalization of $87.58 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.91 and a beta of 0.52. The business’s 50-day simple moving average is $75.78 and its 200 day simple moving average is $73.78. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion during 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%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $1.99 earnings per share. As a group, analysts forecast that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm 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 dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is presently 41.18%.

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.