Lee Danner & Bass Inc. Sells 3,350 Shares of CVS Health Co. (NYSE:CVS)

Lee Danner & Bass Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,464 shares of the pharmacy operator’s stock after selling 3,350 shares during the quarter. Lee Danner & Bass Inc.’s holdings in CVS Health were worth $8,091,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CVS. IFP Advisors Inc lifted its position in shares of CVS Health by 12.5% during the 3rd quarter. IFP Advisors Inc now owns 12,914 shares of the pharmacy operator’s stock valued at $902,000 after acquiring an additional 1,437 shares during the period. Summit Global Investments raised its holdings in CVS Health by 14.8% during the third quarter. Summit Global Investments now owns 11,369 shares of the pharmacy operator’s stock worth $794,000 after buying an additional 1,467 shares during the last quarter. First Affirmative Financial Network purchased a new stake in shares of CVS Health in the third quarter valued at about $202,000. Douglas Lane & Associates LLC raised its holdings in shares of CVS Health by 13.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,034,874 shares of the pharmacy operator’s stock valued at $72,255,000 after purchasing an additional 119,111 shares during the last quarter. Finally, Viking Fund Management LLC raised its holdings in shares of CVS Health by 75.0% in the third quarter. Viking Fund Management LLC now owns 35,000 shares of the pharmacy operator’s stock valued at $2,444,000 after purchasing an additional 15,000 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 0.0 %

Shares of NYSE:CVS traded down $0.01 on Monday, hitting $69.74. 2,698,910 shares of the company’s stock were exchanged, compared to its average volume of 10,747,074. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The stock has a market capitalization of $87.91 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The business’s 50 day simple moving average is $75.29 and its two-hundred day simple moving average is $73.77. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

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. The business had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. Analysts anticipate that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.81%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Buying and Selling at CVS Health

In other 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 transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. SVB Leerink began coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target for the company. Royal Bank of Canada cut their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Piper Sandler raised 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. Finally, StockNews.com lowered shares of 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

About CVS Health

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.