Cutler Investment Counsel LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Cutler Investment Counsel LLC trimmed its holdings in CVS Health Co. (NYSE:CVS) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,937 shares of the pharmacy operator’s stock after selling 2,894 shares during the period. CVS Health accounts for about 1.7% of Cutler Investment Counsel LLC’s holdings, making the stock its 20th biggest holding. Cutler Investment Counsel LLC’s holdings in CVS Health were worth $11,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. HTLF Bank acquired a new position in shares of CVS Health during the 4th quarter valued at about $353,000. Fidelis Capital Partners LLC grew its stake in shares of CVS Health by 55.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 17,729 shares of the pharmacy operator’s stock valued at $1,400,000 after buying an additional 6,357 shares during the period. SFE Investment Counsel raised its position in shares of CVS Health by 7.3% during the 4th quarter. SFE Investment Counsel now owns 64,883 shares of the pharmacy operator’s stock valued at $5,123,000 after buying an additional 4,431 shares during the period. NBW Capital LLC purchased a new position in CVS Health in the fourth quarter worth approximately $206,000. Finally, Twin Capital Management Inc. increased its stake in CVS Health by 18.2% during the fourth quarter. Twin Capital Management Inc. now owns 34,662 shares of the pharmacy operator’s stock worth $2,737,000 after acquiring an additional 5,335 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.5 %

Shares of NYSE:CVS traded up $1.02 during trading hours on Friday, reaching $69.75. The stock had a trading volume of 4,547,743 shares, compared to its average volume of 10,810,119. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The firm’s 50 day moving average is $75.42 and its 200-day moving average is $73.70. The stock has a market capitalization of $87.92 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.99 earnings per share. Research analysts predict that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given 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 3.81%. CVS Health’s dividend payout ratio is presently 41.18%.

Insider Buying and Selling

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The shares were 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 owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research analyst reports. 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 report on Thursday, February 8th. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. HSBC started coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. Barclays began 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 for the company. Finally, Piper Sandler upped their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.