PSI Advisors LLC Trims Stock Holdings in CVS Health Co. (NYSE:CVS)

PSI Advisors LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,475 shares of the pharmacy operator’s stock after selling 686 shares during the period. PSI Advisors LLC’s holdings in CVS Health were worth $1,380,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bryn Mawr Capital Management LLC grew its stake in CVS Health by 74.0% during the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after acquiring an additional 18,385 shares in the last quarter. Value Partners Investments Inc. grew its stake in CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after acquiring an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC grew its stake in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after acquiring an additional 774 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in CVS Health by 2.3% during the third 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 in the last quarter. Finally, Personal CFO Solutions LLC grew its stake in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Barclays initiated coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, 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. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated 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 directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.5 %

Shares of NYSE CVS traded up $1.02 during mid-day trading on Friday, hitting $69.75. The stock had a trading volume of 7,809,721 shares, compared to its average volume of 8,823,763. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The business has a 50 day moving average price of $75.29 and a two-hundred day moving average price of $73.74. The firm has a market cap of $87.92 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (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 net margin of 2.33% and a return on equity of 15.25%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.99 EPS. On average, equities analysts anticipate that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

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.