CVS Health Co. (NYSE:CVS) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,233 shares of the pharmacy operator’s stock after selling 6,639 shares during the period. Merit Financial Group LLC’s holdings in CVS Health were worth $1,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Concord Wealth Partners raised its stake in CVS Health by 3.4% during the third quarter. Concord Wealth Partners now owns 5,229 shares of the pharmacy operator’s stock valued at $365,000 after buying an additional 170 shares in the last quarter. Everhart Financial Group Inc. bought a new position in CVS Health in the 3rd quarter worth approximately $253,000. Lindbrook Capital LLC grew its holdings in CVS Health by 7.2% in the 3rd quarter. Lindbrook Capital LLC now owns 6,662 shares of the pharmacy operator’s stock worth $465,000 after buying an additional 445 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in CVS Health by 17.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 14,668 shares of the pharmacy operator’s stock valued at $1,024,000 after purchasing an additional 2,170 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CVS Health by 3.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 414,042 shares of the pharmacy operator’s stock valued at $28,908,000 after purchasing an additional 13,189 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS Health stock opened at $55.90 on Monday. The company has a market cap of $70.18 billion, a PE ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56. The business has a 50 day moving average of $72.77 and a 200 day moving average of $73.29. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (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 business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

CVS has been the subject of a number of research analyst reports. Mizuho reduced their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group lowered their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America lowered their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays lowered their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.35.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 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.