CVS Health Co. (NYSE:CVS) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC decreased its position in CVS Health Co. (NYSE:CVS) by 52.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,157 shares of the pharmacy operator’s stock after selling 13,600 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in CVS Health were worth $960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC lifted its holdings in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC lifted its holdings in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the last quarter. Coston McIsaac & Partners lifted its holdings in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of CVS Health in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock traded up $0.17 during trading on Friday, reaching $55.32. 7,717,409 shares of the company were exchanged, compared to its average volume of 11,558,606. The company has a market cap of $69.73 billion, a P/E ratio of 9.73, a PEG ratio of 0.89 and a beta of 0.56. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The stock’s 50 day moving average price is $73.19 and its 200 day moving average price is $73.37. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 EPS. As a group, analysts predict that CVS Health Co. will post 7 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.81%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Activity

In related news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the 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 directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CVS. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a research note on Wednesday. Leerink Partnrs downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday. Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $87.00 to $58.00 in a research report on Wednesday. Finally, Barclays decreased their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday. Eight 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 has a consensus rating of “Moderate Buy” and a consensus target price of $80.35.

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.