Wesbanco Bank Inc. Has $8.61 Million Position in CVS Health Corp (CVS)

Wesbanco Bank Inc. cut its stake in shares of CVS Health Corp (NYSE:CVS) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,327 shares of the pharmacy operator’s stock after selling 2,671 shares during the period. Wesbanco Bank Inc.’s holdings in CVS Health were worth $8,605,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jackson Wealth Management LLC acquired a new position in CVS Health in the fourth quarter valued at about $1,535,000. Morgan Stanley grew its stake in CVS Health by 7.9% in the third quarter. Morgan Stanley now owns 9,018,238 shares of the pharmacy operator’s stock valued at $709,914,000 after acquiring an additional 659,975 shares during the period. Capital International Investors grew its stake in CVS Health by 5,579.8% in the third quarter. Capital International Investors now owns 9,161,488 shares of the pharmacy operator’s stock valued at $721,192,000 after acquiring an additional 9,000,188 shares during the period. Butensky & Cohen Financial Security Inc. grew its stake in CVS Health by 1.5% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 27,715 shares of the pharmacy operator’s stock valued at $1,816,000 after acquiring an additional 409 shares during the period. Finally, Raymond James Trust N.A. grew its stake in CVS Health by 6.3% in the fourth quarter. Raymond James Trust N.A. now owns 139,769 shares of the pharmacy operator’s stock valued at $9,158,000 after acquiring an additional 8,344 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

In other news, insider Larry J. Merlo sold 166,368 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.51, for a total value of $10,732,399.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James David Clark sold 1,664 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the sale, the senior vice president now owns 8,557 shares in the company, valued at $497,503.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,039 shares of company stock worth $27,326,012. Corporate insiders own 0.53% of the company’s stock.

CVS has been the subject of a number of research analyst reports. Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “positive” rating for the company in a research note on Monday, February 25th. Morgan Stanley set a $100.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Wells Fargo & Co cut CVS Health from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $104.00 to $68.00 in a research note on Wednesday, February 20th. Cantor Fitzgerald reissued a “buy” rating and issued a $96.00 target price on shares of CVS Health in a research note on Thursday, January 3rd. Finally, UBS Group initiated coverage on CVS Health in a research note on Thursday, January 17th. They issued a “buy” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.50.

Shares of CVS Health stock opened at $58.13 on Friday. The stock has a market capitalization of $63.11 billion, a PE ratio of 8.21, a PEG ratio of 0.90 and a beta of 1.03. CVS Health Corp has a one year low of $57.56 and a one year high of $82.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.94 and a current ratio of 1.03.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. The company had revenue of $54.42 billion for the quarter, compared to analyst estimates of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 earnings per share. Analysts predict that CVS Health Corp will post 6.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 4th. Stockholders of record on Friday, January 25th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.44%. CVS Health’s dividend payout ratio (DPR) is 28.25%.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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