EverSource Wealth Advisors LLC Sells 6,533 Shares of CVS Health Co. (NYSE:CVS)

EverSource Wealth Advisors LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,895 shares of the pharmacy operator’s stock after selling 6,533 shares during the period. EverSource Wealth Advisors LLC’s holdings in CVS Health were worth $860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in CVS Health by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 10,565,389 shares of the pharmacy operator’s stock valued at $834,243,000 after acquiring an additional 146,378 shares during the period. Brandes Investment Partners LP grew its stake in shares of CVS Health by 12.8% in the 4th quarter. Brandes Investment Partners LP now owns 1,383,429 shares of the pharmacy operator’s stock valued at $109,236,000 after purchasing an additional 156,562 shares during the period. CreativeOne Wealth LLC grew its stake in shares of CVS Health by 34.0% in the 4th quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock valued at $610,000 after purchasing an additional 1,961 shares during the period. L.M. Kohn & Company grew its stake in shares of CVS Health by 4.3% in the 4th quarter. L.M. Kohn & Company now owns 20,173 shares of the pharmacy operator’s stock valued at $1,593,000 after purchasing an additional 839 shares during the period. Finally, Sachetta LLC bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $408,000. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. Finally, Royal Bank of Canada reduced their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

CVS Health Stock Performance

NYSE:CVS traded down $0.44 during mid-day trading on Thursday, hitting $57.00. The stock had a trading volume of 1,575,069 shares, compared to its average volume of 11,841,591. CVS Health Co. has a twelve month low of $53.70 and a twelve month high of $83.25. The stock has a market cap of $71.56 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.55 and a beta of 0.56. The company’s 50 day simple moving average is $67.98 and its 200 day simple moving average is $72.13. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities research analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.67%. CVS Health’s dividend payout ratio is presently 46.75%.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

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.