CVS Health Co. (NYSE:CVS) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC reduced its position in CVS Health Co. (NYSE:CVS) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,774 shares of the pharmacy operator’s stock after selling 2,885 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in CVS Health were worth $618,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth $29,000. Financial Perspectives Inc lifted its holdings in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. Compass Planning Associates Inc acquired a new stake in shares of CVS Health during the fourth quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. lifted its holdings in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after purchasing an additional 437 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.8%

Shares of CVS stock opened at $60.03 on Thursday. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a market cap of $75.94 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.98 and a beta of 0.60. The business has a fifty day simple moving average of $66.71 and a 200-day simple moving average of $59.15. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter last year, the business posted $1.31 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 63.48%.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. StockNews.com raised CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Piper Sandler increased their price target on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. UBS Group increased their price target on CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Truist Financial increased their price target on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Monday. Finally, Evercore ISI increased their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.94.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23% decrease in their position. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by company insiders.

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.