Greenleaf Trust Lowers Stake in CVS Health Co. (NYSE:CVS)

Greenleaf Trust lessened its holdings in CVS Health Co. (NYSE:CVS) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,266 shares of the pharmacy operator’s stock after selling 6,383 shares during the period. Greenleaf Trust’s holdings in CVS Health were worth $2,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after acquiring an additional 15,532,533 shares during the period. Norges Bank acquired a new position in shares of CVS Health during the 4th quarter worth about $1,425,416,000. FMR LLC boosted its holdings in CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the last quarter. Morgan Stanley increased its stake in CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after buying an additional 3,311,928 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of CVS Health by 97.8% during the second quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock valued at $379,052,000 after acquiring an additional 2,711,102 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS traded up $1.02 during midday trading on Friday, reaching $69.75. 7,809,721 shares of the stock were exchanged, compared to its average volume of 8,823,763. The company has a market capitalization of $87.92 billion, a price-to-earnings ratio of 10.80, 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 twelve month low of $64.41 and a twelve month high of $83.25. The business’s 50-day moving average price is $75.29 and its 200 day moving average price is $73.70.

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

CVS Health Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on CVS shares. HSBC began coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective for the company. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Piper Sandler boosted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Insider Transactions at CVS Health

In other CVS Health 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.