Checchi Capital Advisers LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Checchi Capital Advisers LLC reduced its position in CVS Health Co. (NYSE:CVS – Get Rating) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,172 shares of the pharmacy operator’s stock after selling 620 shares during the quarter. Checchi Capital Advisers LLC’s holdings in CVS Health were worth $1,134,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CWA Asset Management Group LLC raised its holdings in shares of CVS Health by 5.0% in the fourth quarter. CWA Asset Management Group LLC now owns 12,665 shares of the pharmacy operator’s stock worth $1,180,000 after buying an additional 605 shares during the last quarter. FirstPurpose Wealth LLC raised its position in shares of CVS Health by 5.9% during the 4th quarter. FirstPurpose Wealth LLC now owns 2,887 shares of the pharmacy operator’s stock worth $269,000 after purchasing an additional 161 shares during the last quarter. Gofen & Glossberg LLC IL increased its position in shares of CVS Health by 10.1% during the fourth quarter. Gofen & Glossberg LLC IL now owns 34,429 shares of the pharmacy operator’s stock worth $3,208,000 after purchasing an additional 3,172 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in CVS Health by 45.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 8,089 shares of the pharmacy operator’s stock worth $754,000 after acquiring an additional 2,542 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in CVS Health by 22.3% during the third quarter. Federated Hermes Inc. now owns 714,897 shares of the pharmacy operator’s stock worth $68,180,000 after acquiring an additional 130,279 shares during the last quarter. 77.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, CEO Karen S. Lynch acquired 14,000 shares of CVS Health stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $69.75 per share, for a total transaction of $976,500.00. Following the completion of the transaction, the chief executive officer now owns 431,392 shares in the company, valued at approximately $30,089,592. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

CVS Health Trading Down 0.3 %

Shares of CVS traded down $0.17 during trading hours on Friday, hitting $67.50. The stock had a trading volume of 1,186,817 shares, compared to its average volume of 8,887,342. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.67 and a current ratio of 0.92. CVS Health Co. has a 12-month low of $66.61 and a 12-month high of $107.26. The company’s fifty day simple moving average is $72.74 and its 200 day simple moving average is $84.92. The firm has a market cap of $86.54 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.25 and a beta of 0.61.

CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The pharmacy operator reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.13. CVS Health had a return on equity of 15.75% and a net margin of 1.20%. The business had revenue of $85.28 billion for the quarter, compared to analyst estimates of $80.67 billion. During the same period in the prior year, the company posted $2.22 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that CVS Health Co. will post 8.63 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Friday, April 21st were given a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, April 20th. CVS Health’s payout ratio is 79.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CVS shares. 92 Resources reiterated a “maintains” rating on shares of CVS Health in a research report on Monday, May 8th. Truist Financial cut their price objective on shares of CVS Health from $115.00 to $109.00 in a research report on Thursday, May 4th. UBS Group lowered their price objective on CVS Health from $102.00 to $94.00 in a research report on Tuesday, May 2nd. Raymond James lowered their price objective on CVS Health from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. Finally, Jefferies Financial Group lifted their price target on shares of CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.75.

CVS Health Company Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.