Element Wealth LLC Sells 388 Shares of CVS Health Co. (NYSE:CVS)

Element Wealth LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,604 shares of the pharmacy operator’s stock after selling 388 shares during the period. Element Wealth LLC’s holdings in CVS Health were worth $600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVS. Community Bank & Trust Waco Texas boosted its holdings in CVS Health by 321.0% in the fourth quarter. Community Bank & Trust Waco Texas now owns 15,543 shares of the pharmacy operator’s stock valued at $1,227,000 after acquiring an additional 11,851 shares in the last quarter. Stockman Wealth Management Inc. boosted its holdings in CVS Health by 3.0% in the fourth quarter. Stockman Wealth Management Inc. now owns 97,082 shares of the pharmacy operator’s stock valued at $7,666,000 after acquiring an additional 2,869 shares in the last quarter. Roble Belko & Company Inc lifted its position in CVS Health by 92.6% during the fourth quarter. Roble Belko & Company Inc now owns 5,200 shares of the pharmacy operator’s stock valued at $411,000 after buying an additional 2,500 shares during the period. Larson Financial Group LLC lifted its position in CVS Health by 874.6% during the fourth quarter. Larson Financial Group LLC now owns 6,452 shares of the pharmacy operator’s stock valued at $509,000 after buying an additional 5,790 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in CVS Health by 5.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 310,294 shares of the pharmacy operator’s stock valued at $24,501,000 after buying an additional 17,332 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company’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 sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Piper Sandler raised their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Barclays began coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. SVB Leerink began coverage on CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target for the company. Finally, Royal Bank of Canada lowered their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $1.13 during mid-day trading on Tuesday, reaching $68.50. 8,434,809 shares of the company traded hands, compared to its average volume of 10,726,036. The company’s 50 day moving average price is $75.13 and its 200-day moving average price is $73.77. The firm has a market cap of $86.34 billion, a PE ratio of 10.74, a PEG ratio of 0.92 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. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating 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 company 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 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. CVS Health’s dividend payout ratio (DPR) is 41.18%.

CVS Health 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.