CVS Health Co. (NYSE:CVS) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,783 shares of the pharmacy operator’s stock after selling 216 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in CVS Health were worth $1,325,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Live Oak Investment Partners bought a new position in shares of CVS Health during the 4th quarter valued at about $25,000. Atticus Wealth Management LLC boosted 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 increased its stake in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC increased its holdings in CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in CVS Health in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction 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 filing with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVS shares. SVB Leerink assumed coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price target for the company. HSBC started coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Barclays assumed coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Stock Up 0.8 %

Shares of CVS traded up $0.54 on Tuesday, hitting $69.50. The company’s stock had a trading volume of 5,798,137 shares, compared to its average volume of 10,890,111. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $87.60 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.91 and a beta of 0.52. The firm’s fifty day moving average price is $75.78 and its 200-day moving average price is $73.78. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the firm earned $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders 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 dividend yield of 3.83%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 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.