Highstreet Asset Management Inc. Decreases Holdings in CVS Health (CVS)

Highstreet Asset Management Inc. decreased its position in shares of CVS Health (NYSE:CVS) by 42.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,315 shares of the pharmacy operator’s stock after selling 16,237 shares during the period. Highstreet Asset Management Inc.’s holdings in CVS Health were worth $1,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Northwest Investment Counselors LLC lifted its position in shares of CVS Health by 17.6% in the fourth quarter. Northwest Investment Counselors LLC now owns 22,874 shares of the pharmacy operator’s stock worth $1,658,000 after buying an additional 3,419 shares during the last quarter. Howland Capital Management LLC lifted its position in shares of CVS Health by 4.2% during the 4th quarter. Howland Capital Management LLC now owns 211,851 shares of the pharmacy operator’s stock worth $15,359,000 after purchasing an additional 8,449 shares during the last quarter. Selway Asset Management lifted its position in shares of CVS Health by 4.1% during the 4th quarter. Selway Asset Management now owns 50,978 shares of the pharmacy operator’s stock worth $3,696,000 after purchasing an additional 2,000 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of CVS Health by 2.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 43,804 shares of the pharmacy operator’s stock worth $3,176,000 after purchasing an additional 1,046 shares during the last quarter. Finally, Canal Insurance CO increased its stake in CVS Health by 23.5% during the fourth quarter. Canal Insurance CO now owns 52,500 shares of the pharmacy operator’s stock valued at $3,806,000 after acquiring an additional 10,000 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.

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CVS stock traded down $1.28 during trading hours on Friday, reaching $63.38. 5,114,814 shares of the stock were exchanged, compared to its average volume of 7,846,283. The stock has a market cap of $65,599.64, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59. CVS Health has a 12 month low of $60.14 and a 12 month high of $84.00.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The company had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. During the same quarter last year, the company earned $1.71 EPS. CVS Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. analysts forecast that CVS Health will post 6.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.16%. CVS Health’s dividend payout ratio (DPR) is currently 33.90%.

Several equities analysts recently issued reports on the company. Needham & Company LLC upgraded CVS Health from a “buy” rating to a “strong-buy” rating and boosted their price target for the company from $88.00 to $100.00 in a research note on Tuesday, January 30th. Mizuho set a $95.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. Cowen reiterated an “outperform” rating and issued a $99.00 price objective (up from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Vetr downgraded CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price on the stock. in a report on Tuesday, January 16th. Finally, ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $86.81.

In related news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now directly owns 65,072 shares in the company, valued at approximately $4,622,714.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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