Westover Capital Advisors LLC Sells 2,186 Shares of CVS Health Co. (NYSE:CVS)

Westover Capital Advisors LLC decreased its position in CVS Health Co. (NYSE:CVS) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,012 shares of the pharmacy operator’s stock after selling 2,186 shares during the quarter. Westover Capital Advisors LLC’s holdings in CVS Health were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVS. FMR LLC increased its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after acquiring an additional 6,194,441 shares during the period. International Assets Investment Management LLC increased its position in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board increased its position in CVS Health by 49.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after acquiring an additional 698,054 shares during the period. Pacer Advisors Inc. increased its position in CVS Health by 12.6% during the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after acquiring an additional 616,785 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in CVS Health during the third quarter worth $34,379,000. Institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

CVS Health Price Performance

Shares of CVS stock traded down $1.33 during trading hours on Thursday, reaching $54.98. 32,344,513 shares of the company were exchanged, compared to its average volume of 11,532,171. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The stock’s fifty day moving average is $73.63 and its two-hundred day moving average is $73.50. The company has a market cap of $69.30 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 0.90 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.84%. CVS Health’s dividend payout ratio is currently 41.18%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Truist Financial reissued a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research note on Thursday. Bank of America lowered their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Finally, StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.35.

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.