Cullen Frost Bankers Inc. Sells 8,768 Shares of CVS Health Co. (NYSE:CVS)

Cullen Frost Bankers Inc. trimmed its stake in CVS Health Co. (NYSE:CVS) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 230,786 shares of the pharmacy operator’s stock after selling 8,768 shares during the period. Cullen Frost Bankers Inc.’s holdings in CVS Health were worth $18,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CVS. Bryn Mawr Capital Management LLC grew its holdings in CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after buying an additional 18,385 shares during the last quarter. Sonora Investment Management Group LLC grew its holdings in shares of CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after purchasing an additional 774 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after purchasing an additional 233 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after purchasing an additional 491 shares in the last quarter. Finally, Riverpoint Wealth Management Holdings LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $218,000. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVS. Bank of America decreased their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada decreased their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $60.00 in a report on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and decreased their price target for the company from $99.00 to $59.00 in a research note on Tuesday. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $77.67.

Insider Buying and Selling at CVS Health

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 value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Prem S. Shah sold 29,473 shares of the 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 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 is available through the SEC website. Also, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Down 1.5 %

Shares of CVS stock traded down $0.81 on Wednesday, hitting $54.93. 13,618,157 shares of the stock were exchanged, compared to its average volume of 11,890,314. CVS Health Co. has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The firm has a market capitalization of $68.96 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $71.95 and a 200 day moving average of $73.09.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. Equities analysts anticipate that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid 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 46.75%.

CVS Health 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.