Federated Hermes Inc. Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Federated Hermes Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,102,314 shares of the pharmacy operator’s stock after selling 98,664 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of CVS Health worth $87,039,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVS. Weik Capital Management lifted its stake in CVS Health by 0.7% in the 1st quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after purchasing an additional 120 shares in the last quarter. FCA Corp TX lifted its stake in CVS Health by 0.6% in the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock worth $2,035,000 after purchasing an additional 122 shares in the last quarter. Arvest Trust Co. N A lifted its stake in CVS Health by 1.2% in the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock worth $1,040,000 after purchasing an additional 131 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares in the last quarter. Finally, Apella Capital LLC lifted its stake in CVS Health by 4.2% in the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were 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 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 can be accessed through this link. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Up 1.2 %

NYSE:CVS opened at $69.39 on Friday. The firm has a market capitalization of $87.46 billion, a P/E ratio of 10.74, a PEG ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The company’s fifty day moving average price is $75.42 and its 200-day moving average price is $73.70. 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 (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 2.33% and a return on equity of 15.25%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.99 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.83%. CVS Health’s payout ratio is currently 41.18%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVS. SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Royal Bank of Canada reduced their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Barclays initiated 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.44.

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.