CVS Health Co. (NYSE:CVS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,589,284 shares of the pharmacy operator’s stock after selling 81,312 shares during the period. Victory Capital Management Inc. owned 0.12% of CVS Health worth $125,490,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVS. Atticus Wealth Management LLC lifted its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC raised its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC boosted its position in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the period. Coston McIsaac & Partners grew its stake in CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $55.15 on Friday. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. The stock has a market capitalization of $69.52 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.89 and a beta of 0.56. The firm has a fifty day moving average of $73.19 and a two-hundred day moving average of $73.37.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.82%. CVS Health’s dividend payout ratio is 46.75%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CVS shares. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. The Goldman Sachs Group dropped their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday. SVB Leerink reissued a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday. Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $87.00 to $58.00 in a report on Wednesday. Finally, Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.35.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on 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 directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

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.