Adell Harriman & Carpenter Inc. Trims Stock Position in CVS Health Co. (NYSE:CVS)

Adell Harriman & Carpenter Inc. lowered its position in shares of CVS Health Co. (NYSE:CVS) by 30.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,757 shares of the pharmacy operator’s stock after selling 16,577 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in CVS Health were worth $2,981,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in CVS Health by 22.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock worth $418,000 after buying an additional 1,112 shares in the last quarter. Brookstone Capital Management grew its stake in CVS Health by 18.3% in the 3rd quarter. Brookstone Capital Management now owns 60,115 shares of the pharmacy operator’s stock worth $4,245,000 after buying an additional 9,303 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in CVS Health by 1.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 335,419 shares of the pharmacy operator’s stock worth $23,419,000 after buying an additional 3,400 shares in the last quarter. Sheets Smith Wealth Management grew its stake in CVS Health by 10.4% in the 3rd quarter. Sheets Smith Wealth Management now owns 63,875 shares of the pharmacy operator’s stock worth $4,460,000 after buying an additional 6,009 shares in the last quarter. Finally, Sweet Financial Partners LLC lifted its holdings in shares of CVS Health by 60.2% in the 3rd quarter. Sweet Financial Partners LLC now owns 20,971 shares of the pharmacy operator’s stock worth $1,464,000 after acquiring an additional 7,877 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.4 %

NYSE CVS traded up $0.27 during trading on Monday, hitting $67.45. The company had a trading volume of 6,538,890 shares, compared to its average volume of 10,604,966. The company has a current ratio of 0.86, a quick ratio of 0.63 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. The company has a market cap of $85.02 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The company’s fifty day moving average is $74.42 and its 200-day moving average is $73.67.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to analyst estimates 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 for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.99 EPS. On average, sell-side analysts predict that CVS Health Co. will post 8.31 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. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent research reports. Wells Fargo & Company lowered 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. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Barclays initiated coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Transactions 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.

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.