Blodgett Wealth Advisors LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Blodgett Wealth Advisors LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 39.0% during the 4th quarter, HoldingsChannel reports. The fund owned 8,043 shares of the pharmacy operator’s stock after selling 5,152 shares during the period. CVS Health accounts for 0.6% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 26th largest position. Blodgett Wealth Advisors LLC’s holdings in CVS Health were worth $635,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. increased its position in shares of CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after acquiring an additional 133 shares during the last quarter. Apella Capital LLC boosted its holdings in CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares during the period. Prairie Sky Financial Group LLC grew its position in shares of CVS Health by 4.1% during the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after buying an additional 141 shares during the last quarter. WealthShield Partners LLC lifted its holdings in shares of CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after purchasing an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its position in CVS Health by 9.5% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 142 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded down $0.15 during trading hours on Friday, reaching $67.18. 6,396,438 shares of the company’s stock were exchanged, compared to its average volume of 8,376,818. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $84.68 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The business’s 50-day simple moving average is $74.42 and its two-hundred day simple moving average is $73.64.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the previous year, the company earned $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts expect that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent research reports. SVB Leerink began coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Barclays initiated coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target 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.