Vident Advisory LLC Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Vident Advisory LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 59.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,233 shares of the pharmacy operator’s stock after selling 48,983 shares during the period. Vident Advisory LLC’s holdings in CVS Health were worth $1,492,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVS. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth $29,000. Financial Perspectives Inc boosted its holdings in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. increased its stake 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 acquiring an additional 437 shares during the period. Finally, Compass Planning Associates Inc purchased a new position in CVS Health during the fourth quarter worth about $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 3.1%

Shares of NYSE:CVS opened at $60.16 on Friday. The company has a market capitalization of $76.10 billion, a P/E ratio of 16.44, a P/E/G ratio of 0.98 and a beta of 0.60. The stock’s fifty day simple moving average is $66.28 and its 200-day simple moving average is $59.37. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. 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 released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 63.48%.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s 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 directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CVS shares. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Royal Bank of Canada upped their price objective on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Cowen reiterated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $74.94.

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.