Buffington Mohr McNeal Cuts Stake in CVS Health Co. (NYSE:CVS)

Buffington Mohr McNeal reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,218 shares of the pharmacy operator’s stock after selling 1,625 shares during the quarter. Buffington Mohr McNeal’s holdings in CVS Health were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CVS. Moneta Group Investment Advisors LLC grew its holdings in CVS Health by 103,371.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after buying an additional 15,532,533 shares in the last quarter. Norges Bank purchased a new stake in CVS Health during the 4th quarter valued at approximately $1,425,416,000. FMR LLC grew its holdings in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares in the last quarter. Morgan Stanley grew its holdings in CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after buying an additional 3,311,928 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of CVS Health by 97.8% in the second quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock valued at $379,052,000 after purchasing an additional 2,711,102 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.8 %

Shares of NYSE:CVS traded up $0.54 on Tuesday, hitting $69.50. 5,309,911 shares of the company’s stock were exchanged, compared to its average volume of 10,882,771. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The stock has a market capitalization of $87.60 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. The business’s 50 day simple moving average is $75.78 and its two-hundred day simple moving average is $73.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same period last year, the company earned $1.99 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.83%. CVS Health’s payout ratio is currently 41.18%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate 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.