Pinnacle Wealth Management Advisory Group LLC Sells 559 Shares of CVS Health Co. (NYSE:CVS)

Pinnacle Wealth Management Advisory Group LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,131 shares of the pharmacy operator’s stock after selling 559 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in CVS Health were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in CVS Health by 0.4% in the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock valued at $8,180,295,000 after purchasing an additional 485,744 shares during the last quarter. FMR LLC boosted its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Northern Trust Corp grew its holdings in CVS Health by 2.2% in the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock valued at $992,442,000 after purchasing an additional 305,564 shares during the period. Royal Bank of Canada raised its stake in shares of CVS Health by 2.2% during the 3rd quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after buying an additional 303,512 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in CVS Health by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,950,289 shares of the pharmacy operator’s stock valued at $993,351,000 after acquiring an additional 232,464 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVS shares. Argus lowered their price objective on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. SVB Leerink reissued a “market perform” rating and issued a $60.00 price target (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Leerink Partnrs lowered CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.75.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’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 directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

CVS traded up $0.41 during trading on Thursday, hitting $55.32. 5,940,575 shares of the stock were exchanged, compared to its average volume of 11,822,850. The firm has a market capitalization of $69.45 billion, a P/E ratio of 9.70, a PEG ratio of 0.88 and a beta of 0.56. The stock has a fifty day moving average price of $71.95 and a two-hundred day moving average price of $73.09. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 1-year low of $53.70 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Announces Dividend

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. This represents a $2.66 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

About CVS Health

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.