Octavia Wealth Advisors LLC Sells 216 Shares of CVS Health Co. (NYSE:CVS)

Octavia Wealth Advisors LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,783 shares of the pharmacy operator’s stock after selling 216 shares during the period. Octavia Wealth Advisors LLC’s holdings in CVS Health were worth $1,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Weik Capital Management boosted its position in CVS Health by 0.7% during the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after purchasing an additional 120 shares in the last quarter. FCA Corp TX increased its holdings in CVS Health by 0.6% in the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock worth $2,035,000 after acquiring an additional 122 shares in the last quarter. Arvest Trust Co. N A raised its position in CVS Health by 1.2% during the fourth quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock worth $1,040,000 after acquiring an additional 131 shares during the period. SOA Wealth Advisors LLC. lifted its holdings in CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares in the last quarter. Finally, Apella Capital LLC grew its position in shares of CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after purchasing an additional 136 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

CVS Health Stock Up 0.8 %

Shares of CVS Health stock traded up $0.54 during trading on Tuesday, hitting $69.50. 5,798,137 shares of the stock were exchanged, compared to its average volume of 10,890,111. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The stock has a market cap 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 firm’s 50-day moving average price is $75.78 and its 200 day moving average price is $73.78.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS 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 the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.99 EPS. As a group, analysts forecast that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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 given a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.83%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Analyst Ratings Changes

A number of analysts have commented on CVS shares. Wells Fargo & Company cut their price objective 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. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. HSBC began coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, Piper Sandler upped 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

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.