Everence Capital Management Inc. Sells 440 Shares of CVS Health Co. (NYSE:CVS)

Everence Capital Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,164 shares of the pharmacy operator’s stock after selling 440 shares during the quarter. Everence Capital Management Inc.’s holdings in CVS Health were worth $3,408,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock valued at $38,245,000 after acquiring an additional 181,966 shares in the last quarter. United Bank grew its holdings in shares of CVS Health by 7.2% in the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock valued at $1,888,000 after acquiring an additional 1,260 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of CVS Health by 4,063.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock valued at $1,222,000 after acquiring an additional 11,785 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in CVS Health by 116.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after purchasing an additional 1,386 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in CVS Health in the 1st quarter valued at about $1,551,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HSBC assumed coverage on shares of CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price for the company. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. SVB Leerink assumed coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.07 during midday trading on Tuesday, reaching $69.03. 9,591,628 shares of the company were exchanged, compared to its average volume of 10,944,301. The stock’s 50-day moving average price is $75.78 and its 200-day moving average price is $73.78. The stock has a market cap of $87.01 billion, a P/E ratio of 10.86, a PEG ratio of 0.91 and a beta of 0.52. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. 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 (NYSE:CVS) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the previous year, the firm posted $1.99 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.85%. CVS Health’s dividend payout ratio is 41.18%.

Insider Buying and Selling

In related 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 value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by 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.