TrinityPoint Wealth LLC Has $8.66 Million Stock Position in CVS Health Co. (NYSE:CVS)

TrinityPoint Wealth LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,695 shares of the pharmacy operator’s stock after selling 581 shares during the quarter. CVS Health accounts for approximately 1.6% of TrinityPoint Wealth LLC’s holdings, making the stock its 10th biggest holding. TrinityPoint Wealth LLC’s holdings in CVS Health were worth $8,662,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares in the last quarter. Canoe Financial LP increased its position in shares of CVS Health by 95.1% during the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after purchasing an additional 859,134 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of CVS Health by 49.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after purchasing an additional 616,785 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.2 %

CVS Health stock opened at $55.54 on Monday. The company’s 50 day simple moving average is $67.13 and its 200 day simple moving average is $71.94. 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 $69.72 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.53 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the business earned $2.20 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.79%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVS shares. Piper Sandler increased 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. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and lowered their price objective for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. Mizuho lowered their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $87.00 to $58.00 in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $76.75.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available at this link. 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.