Institute for Wealth Management LLC. Sells 380 Shares of CVS Health Co. (NYSE:CVS)

Institute for Wealth Management LLC. reduced its holdings in CVS Health Co. (NYSE:CVS) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,073 shares of the pharmacy operator’s stock after selling 380 shares during the quarter. Institute for Wealth Management LLC.’s holdings in CVS Health were worth $480,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVS. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after buying an additional 181,966 shares during the last quarter. United Bank lifted its stake in shares of CVS Health by 7.2% in the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock valued at $1,888,000 after purchasing an additional 1,260 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of CVS Health by 4,063.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock valued at $1,222,000 after purchasing an additional 11,785 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of CVS Health by 116.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after purchasing an additional 1,386 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of CVS Health in the 1st quarter valued at approximately $1,551,000. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Stock Performance

Shares of CVS opened at $69.75 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The firm has a market capitalization of $87.92 billion, a P/E ratio of 10.80, a PEG ratio of 0.92 and a beta of 0.52. The business has a fifty day moving average of $75.29 and a 200 day moving average of $73.74.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. CVS Health’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVS. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. SVB Leerink assumed coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Finally, Barclays assumed coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

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.