MainStreet Investment Advisors LLC Lowers Position in CVS Health Co. (NYSE:CVS)


Share on StockTwits

MainStreet Investment Advisors LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 4.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,415 shares of the pharmacy operator’s stock after selling 4,385 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in CVS Health were worth $5,834,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of CVS Health by 1.2% in the fourth quarter. First Trust Advisors LP now owns 1,320,232 shares of the pharmacy operator’s stock worth $90,172,000 after buying an additional 15,828 shares in the last quarter. Kingfisher Capital LLC raised its stake in CVS Health by 7.7% during the fourth quarter. Kingfisher Capital LLC now owns 21,834 shares of the pharmacy operator’s stock valued at $1,491,000 after purchasing an additional 1,569 shares in the last quarter. Pzena Investment Management LLC raised its stake in CVS Health by 6.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,233,975 shares of the pharmacy operator’s stock valued at $84,280,000 after purchasing an additional 75,581 shares in the last quarter. Cowa LLC purchased a new stake in CVS Health during the fourth quarter valued at $87,000. Finally, Formidable Asset Management LLC raised its stake in CVS Health by 9.3% during the third quarter. Formidable Asset Management LLC now owns 17,767 shares of the pharmacy operator’s stock valued at $1,029,000 after purchasing an additional 1,506 shares in the last quarter. 74.21% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Lisa Bisaccia sold 25,177 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $77.00, for a total value of $1,938,629.00. Following the sale, the executive vice president now directly owns 71,765 shares in the company, valued at approximately $5,525,905. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Larry J. Merlo sold 62,893 shares of the firm’s stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $77.00, for a total transaction of $4,842,761.00. Following the completion of the sale, the chief executive officer now owns 586,222 shares in the company, valued at $45,139,094. The disclosure for this sale can be found here. Insiders have sold a total of 113,906 shares of company stock worth $8,719,090 in the last three months. Insiders own 0.46% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Friday, January 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research note on Monday, November 9th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. SVB Leerink increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research note on Monday, December 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $82.08.

CVS stock traded down $0.61 during trading on Tuesday, hitting $69.87. The company had a trading volume of 110,030 shares, compared to its average volume of 7,151,497. The firm has a market capitalization of $91.62 billion, a P/E ratio of 11.65, a PEG ratio of 1.72 and a beta of 0.82. CVS Health Co. has a 52-week low of $52.04 and a 52-week high of $77.23. The company has a 50 day simple moving average of $73.45 and a 200-day simple moving average of $66.22. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.89.

CVS Health (NYSE:CVS) last posted its earnings results on Monday, February 15th. The pharmacy operator reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. During the same quarter in the prior year, the business posted $1.73 EPS. Sell-side analysts forecast that CVS Health Co. will post 7.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 1st. Shareholders of record on Friday, January 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Thursday, January 21st. CVS Health’s dividend payout ratio (DPR) is 28.25%.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

Featured Story: How do candlesticks reflect price movement?

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.