Valmark Advisers Inc. Has $328,000 Stock Position in CVS Health Co. (NYSE:CVS)

Valmark Advisers Inc. cut its stake in CVS Health Co. (NYSE:CVS) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,158 shares of the pharmacy operator’s stock after selling 656 shares during the period. Valmark Advisers Inc.’s holdings in CVS Health were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Exchange Traded Concepts LLC lifted its position in CVS Health by 22.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,993 shares of the pharmacy operator’s stock worth $418,000 after buying an additional 1,112 shares in the last quarter. Brookstone Capital Management lifted its position in CVS Health by 18.3% during the 3rd quarter. Brookstone Capital Management now owns 60,115 shares of the pharmacy operator’s stock worth $4,245,000 after buying an additional 9,303 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in CVS Health by 1.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 335,419 shares of the pharmacy operator’s stock worth $23,419,000 after buying an additional 3,400 shares in the last quarter. Sheets Smith Wealth Management lifted its position in CVS Health by 10.4% during the 3rd quarter. Sheets Smith Wealth Management now owns 63,875 shares of the pharmacy operator’s stock worth $4,460,000 after buying an additional 6,009 shares in the last quarter. Finally, Sweet Financial Partners LLC lifted its position in CVS Health by 60.2% during the 3rd quarter. Sweet Financial Partners LLC now owns 20,971 shares of the pharmacy operator’s stock worth $1,464,000 after buying an additional 7,877 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Wednesday, April 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Finally, Wells Fargo & Company dropped their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $67.18 on Monday. The company’s 50 day moving average price is $74.42 and its two-hundred day moving average price is $73.67. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The firm has a market cap of $84.68 billion, a PE ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the business posted $1.99 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. CVS Health’s dividend payout ratio is 41.18%.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% 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.