Transcend Capital Advisors LLC Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Transcend Capital Advisors LLC reduced its position in CVS Health Co. (NYSE:CVS) by 6.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,769 shares of the pharmacy operator’s stock after selling 1,164 shares during the period. Transcend Capital Advisors LLC’s holdings in CVS Health were worth $1,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atticus Wealth Management LLC boosted its position in 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 purchasing an additional 219 shares during the period. Cornerstone Planning Group LLC boosted its position in 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 purchasing an additional 243 shares during the period. ZRC Wealth Management LLC boosted its position in 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 purchasing an additional 400 shares during the period. Coston McIsaac & Partners lifted its holdings in CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in CVS Health in the 4th quarter worth $50,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS stock traded down $0.15 during trading on Friday, hitting $67.18. 6,396,438 shares of the stock traded hands, compared to its average volume of 8,376,818. 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 stock has a market cap of $84.68 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.89 and a beta of 0.52. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The company has a 50 day simple moving average of $74.42 and a 200 day simple moving average of $73.66.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is 41.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVS shares. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Wells Fargo & Company decreased 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. Barclays assumed 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, StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.