CVS Health Co. (NYSE:CVS) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,962 shares of the pharmacy operator’s stock after selling 1,172 shares during the quarter. Tranquility Partners LLC’s holdings in CVS Health were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of CVS Health by 2.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 43,503 shares of the pharmacy operator’s stock valued at $3,434,000 after acquiring an additional 1,150 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of CVS Health by 6.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 115,101 shares of the pharmacy operator’s stock valued at $9,088,000 after acquiring an additional 6,899 shares during the period. Oakworth Capital Inc. raised its stake in shares of CVS Health by 38.5% in the 4th quarter. Oakworth Capital Inc. now owns 5,542 shares of the pharmacy operator’s stock valued at $438,000 after acquiring an additional 1,540 shares during the period. Archer Investment Corp raised its stake in shares of CVS Health by 7.2% in the 4th quarter. Archer Investment Corp now owns 40,808 shares of the pharmacy operator’s stock valued at $3,222,000 after acquiring an additional 2,730 shares during the period. Finally, Tyche Wealth Partners LLC purchased a new stake in shares of CVS Health in the 4th quarter valued at approximately $202,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE:CVS traded up $0.60 during trading hours on Thursday, reaching $69.20. 826,298 shares of the company’s stock were exchanged, compared to its average volume of 10,766,104. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 0.91 and a beta of 0.52. The company has a 50-day moving average of $75.53 and a 200 day moving average of $73.73. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’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 EPS. Research analysts anticipate that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.84%. CVS Health’s payout ratio is currently 41.18%.

Wall Street Analyst Weigh In

CVS has been the topic of several recent research reports. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. HSBC initiated coverage on shares of CVS Health in a research note on Friday, December 22nd. They set a “buy” rating and a $94.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Wells Fargo & Company lowered their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’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 completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by insiders.

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.