ICW Investment Advisors LLC Cuts Position in CVS Health Co. (NYSE:CVS)

ICW Investment Advisors LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,986 shares of the pharmacy operator’s stock after selling 387 shares during the quarter. ICW Investment Advisors LLC’s holdings in CVS Health were worth $394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after acquiring an additional 1,307,100 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of CVS Health by 49.9% in the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock valued at $146,341,000 after acquiring an additional 698,054 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after acquiring an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of CVS Health during the third quarter worth approximately $34,379,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVS. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research note on Wednesday. Wells Fargo & Company cut their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Piper Sandler boosted their price target 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. Mizuho cut their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.50.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of 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 SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $56.32 on Thursday. The business’s fifty day moving average price is $73.63 and its 200 day moving average price is $73.50. CVS Health Co. has a 12-month low of $54.00 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $70.99 billion, a PE ratio of 8.72, a P/E/G ratio of 0.90 and a beta of 0.56.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same period in the prior year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.72%. CVS Health’s dividend payout ratio is presently 41.18%.

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.