Westbourne Investment Advisors Inc. Has $448,000 Stake in CVS Health Co. (NYSE:CVS)

Westbourne Investment Advisors Inc. cut its position in CVS Health Co. (NYSE:CVS) by 13.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,669 shares of the pharmacy operator’s stock after selling 865 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in CVS Health were worth $448,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of CVS Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock valued at $8,180,295,000 after acquiring an additional 485,744 shares during the period. State Street Corp boosted its stake in CVS Health by 1.6% during the second quarter. State Street Corp now owns 55,877,387 shares of the pharmacy operator’s stock worth $3,862,804,000 after acquiring an additional 855,269 shares in the last quarter. Morgan Stanley boosted its stake in CVS Health by 10.9% during the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after acquiring an additional 3,311,928 shares in the last quarter. FMR LLC boosted its stake 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 acquiring an additional 6,194,441 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after acquiring an additional 15,532,533 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 0.4 %

Shares of CVS traded up $0.31 during mid-day trading on Thursday, reaching $79.74. The company’s stock had a trading volume of 4,593,387 shares, compared to its average volume of 11,223,246. The stock has a market cap of $100.35 billion, a PE ratio of 12.44, a P/E/G ratio of 1.05 and a beta of 0.51. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The company’s fifty day moving average price is $75.61 and its two-hundred day moving average price is $73.42.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period in the previous year, the business posted $1.99 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts predict that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced 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 dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Piper Sandler raised their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Thursday, February 8th. Finally, Royal Bank of Canada lowered their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.21.

Insider Buying and Selling

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 transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

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.