CVS Health Co. (NYSE:CVS) Shares Sold by Webster Bank N. A.

Webster Bank N. A. lessened its position in shares of CVS Health Co. (NYSE:CVS) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,495 shares of the pharmacy operator’s stock after selling 722 shares during the quarter. Webster Bank N. A.’s holdings in CVS Health were worth $5,357,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Live Oak Investment Partners purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $25,000. LifePro Asset Management purchased a new stake in shares of CVS Health during the 2nd quarter valued at approximately $37,000. 25 LLC purchased a new stake in CVS Health in the first quarter valued at approximately $39,000. Freedom Wealth Alliance LLC purchased a new stake in CVS Health in the fourth quarter valued at approximately $40,000. Finally, Ahrens Investment Partners LLC purchased a new stake in CVS Health in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded up $0.74 during mid-day trading on Tuesday, reaching $71.44. 4,880,835 shares of the company were exchanged, compared to its average volume of 9,126,229. CVS Health Co. has a 12 month low of $64.62 and a 12 month high of $104.83. The company has a fifty day moving average of $70.83 and a 200 day moving average of $71.77. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.84. The stock has a market cap of $91.76 billion, a PE ratio of 31.01, a PEG ratio of 1.34 and a beta of 0.63.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.09. The company had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. CVS Health had a net margin of 0.86% and a return on equity of 15.43%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 EPS. On average, research analysts anticipate that CVS Health Co. will post 8.61 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 21st were given a $0.605 dividend. The ex-dividend date was Thursday, July 20th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.39%. CVS Health’s dividend payout ratio is 106.14%.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 25,759 shares of CVS Health stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $74.92, for a total value of $1,929,864.28. Following the transaction, the senior vice president now owns 4,698 shares of the company’s stock, valued at $351,974.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVS. Piper Sandler lowered their target price on shares of CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, September 1st. Raymond James decreased their target price on shares of CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Evercore ISI raised shares of CVS Health from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $83.00 in a report on Tuesday. Wolfe Research raised shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Tuesday, September 12th. Finally, StockNews.com assumed coverage on shares of CVS Health in a report on Thursday, August 17th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.28.

CVS Health Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.