CVS Health Co. (NYSE:CVS) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 48.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,695 shares of the pharmacy operator’s stock after selling 7,262 shares during the period. Elmwood Wealth Management Inc.’s holdings in CVS Health were worth $608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC grew its position in shares of CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after buying an additional 18,385 shares during the last quarter. Value Partners Investments Inc. lifted its stake in CVS Health by 26.5% in the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after buying an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC boosted its stake in CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after purchasing an additional 774 shares during the period. Checchi Capital Advisers LLC increased its position in CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after acquiring an additional 233 shares during the period. Finally, Personal CFO Solutions LLC lifted its position in CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after acquiring an additional 491 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS traded up $0.58 on Monday, hitting $69.22. The stock had a trading volume of 3,995,131 shares, compared to its average volume of 10,918,117. The company’s 50-day moving average is $75.85 and its two-hundred day moving average is $73.78. The stock has a market cap of $87.25 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 0.91 and a beta of 0.52. 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 one year low of $64.41 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The business had revenue of $93.81 billion for 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%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 earnings per share. On average, analysts expect that CVS Health Co. will post 8.33 earnings per share for the current year.

CVS Health Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. SVB Leerink started coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Piper Sandler boosted their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. HSBC started coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price for the company. Finally, Barclays started coverage on shares of CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of 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 document filed with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

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.