CVS Health Co. (NYSE:CVS) Shares Sold by Cognios Beta Neutral Large Cap Fund LP

Cognios Beta Neutral Large Cap Fund LP decreased its position in shares of CVS Health Co. (NYSE:CVS) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,393 shares of the pharmacy operator’s stock after selling 474 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in CVS Health were worth $584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. 1900 Wealth Management LLC purchased a new stake in CVS Health in the 3rd quarter valued at approximately $219,000. Exchange Traded Concepts LLC boosted its stake in shares of CVS Health by 22.8% during the third quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock valued at $418,000 after acquiring an additional 1,112 shares during the last quarter. Private Trust Co. NA raised its stake in CVS Health by 21.9% in the 3rd quarter. Private Trust Co. NA now owns 17,253 shares of the pharmacy operator’s stock valued at $1,205,000 after purchasing an additional 3,103 shares during the last quarter. Riverwater Partners LLC lifted its holdings in CVS Health by 24.3% in the 3rd quarter. Riverwater Partners LLC now owns 4,205 shares of the pharmacy operator’s stock valued at $294,000 after purchasing an additional 821 shares in the last quarter. Finally, LaFleur & Godfrey LLC grew its holdings in shares of CVS Health by 1.2% during the third quarter. LaFleur & Godfrey LLC now owns 29,806 shares of the pharmacy operator’s stock worth $2,081,000 after buying an additional 345 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Barclays started coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Royal Bank of Canada lowered their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Stock Down 1.1 %

CVS traded down $0.74 during trading hours on Wednesday, reaching $67.76. 8,650,023 shares of the stock traded hands, compared to its average volume of 10,731,002. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a market cap of $85.41 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 0.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm’s fifty day simple moving average is $74.97 and its two-hundred day simple moving average is $73.76.

CVS Health (NYSE:CVS) last announced its earnings results 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 business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same period in the previous year, the company earned $1.99 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

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.