Carret Asset Management LLC Has $8.69 Million Stock Position in CVS Health Co. (NYSE:CVS)

Carret Asset Management LLC decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,085 shares of the pharmacy operator’s stock after selling 634 shares during the quarter. CVS Health comprises about 1.1% of Carret Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Carret Asset Management LLC’s holdings in CVS Health were worth $8,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVS. Atticus Wealth Management LLC boosted its stake in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC boosted its stake in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the period. Coston McIsaac & Partners boosted its stake in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after acquiring an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of CVS Health during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

Shares of CVS traded down $0.74 during midday trading on Wednesday, reaching $67.76. The stock had a trading volume of 8,650,023 shares, compared to its average volume of 10,731,002. The company’s 50-day moving average is $74.97 and its 200 day moving average is $73.76. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $85.41 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the business earned $1.99 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CVS shares. SVB Leerink started coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 target price for the company. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada dropped their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Company 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.