JARISLOWSKY FRASER Ltd Trims Stock Position in CVS Health Co. (NYSE:CVS)

JARISLOWSKY FRASER Ltd reduced its stake in CVS Health Co. (NYSE:CVSFree Report) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,430 shares of the pharmacy operator’s stock after selling 4,784 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in CVS Health were worth $8,324,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Atticus Wealth Management LLC raised its position in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares during the last quarter. USA Financial Formulas raised its holdings in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares during the period. ZRC Wealth Management LLC boosted its holdings in CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of CVS Health during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a legal 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 Trading Down 1.5 %

Shares of NYSE:CVS traded down $0.86 during trading on Tuesday, reaching $54.68. The stock had a trading volume of 4,142,713 shares, compared to its average volume of 11,930,006. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The business has a fifty day moving average price of $66.69 and a 200-day moving average price of $71.86. The stock has a market cap of $68.64 billion, a P/E ratio of 9.63, a PEG ratio of 0.53 and a beta of 0.56. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. As a group, analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVS shares. Argus dropped their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. SVB Leerink reiterated a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Wells Fargo & Company decreased their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Truist Financial reaffirmed a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.75.

Check Out Our Latest Stock Report on CVS

CVS Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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