Adell Harriman & Carpenter Inc. Sells 16,577 Shares of CVS Health Co. (NYSE:CVS)

Adell Harriman & Carpenter Inc. cut its position in CVS Health Co. (NYSE:CVS) by 30.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,757 shares of the pharmacy operator’s stock after selling 16,577 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in CVS Health were worth $2,981,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC raised its holdings in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares in the last quarter. Value Partners Investments Inc. grew its stake in shares of CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after acquiring an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC grew its stake in shares of CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after acquiring an additional 774 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of CVS Health by 2.3% during the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after acquiring an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in shares of CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after acquiring an additional 491 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.4 %

Shares of CVS Health stock traded up $0.27 on Monday, reaching $67.45. 6,538,890 shares of the company were exchanged, compared to its average volume of 10,604,966. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The company has a market cap of $85.02 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The stock’s 50 day moving average price is $74.42 and its 200-day moving average price is $73.67.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the previous year, the company posted $1.99 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

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 paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.94%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research note on Wednesday, April 10th. SVB Leerink initiated coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Finally, StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.