CVS Health Corporation (NYSE:CVS) Shares Sold by Pinney & Scofield Inc.

Pinney & Scofield Inc. lessened its stake in shares of CVS Health Corporation (NYSE:CVS) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,182 shares of the pharmacy operator’s stock after selling 300 shares during the quarter. Pinney & Scofield Inc.’s holdings in CVS Health were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVS. McIlrath & Eck LLC increased its stake in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 174 shares during the period. Costello Asset Management INC grew its position in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 422 shares during the last quarter. Park Square Financial Group LLC acquired a new position in CVS Health in the fourth quarter worth approximately $43,000. GW&K Investment Management LLC grew its position in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock worth $43,000 after buying an additional 180 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL grew its position in CVS Health by 77.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 446 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVS. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. UBS Group decreased their price target on shares of CVS Health from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 22nd. Jefferies Financial Group lifted their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $75.11.

CVS Health Trading Up 0.2%

Shares of NYSE:CVS opened at $63.55 on Thursday. The firm has a fifty day moving average of $64.63 and a two-hundred day moving average of $64.07. The firm has a market capitalization of $80.60 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.58. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. On average, equities analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.2%. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company’s stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company’s stock.

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.