Iowa State Bank Sells 325 Shares of CVS Health Co. (NYSE:CVS)

Iowa State Bank trimmed its holdings in shares of CVS Health Co. (NYSE:CVSFree Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,697 shares of the pharmacy operator’s stock after selling 325 shares during the period. CVS Health comprises approximately 1.1% of Iowa State Bank’s investment portfolio, making the stock its 29th largest holding. Iowa State Bank’s holdings in CVS Health were worth $4,556,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVS. Cantor Fitzgerald Investment Advisor L.P raised its stake in 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 valued at $38,245,000 after acquiring an additional 181,966 shares during the period. United Bank raised its stake in 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 acquiring an additional 1,260 shares during the period. Loomis Sayles & Co. L P raised its stake in 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 acquiring an additional 11,785 shares during the period. Zions Bancorporation N.A. raised its stake in 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 acquiring an additional 1,386 shares during the period. Finally, Ergoteles LLC bought a new stake in shares of CVS Health during the first quarter valued at about $1,551,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 7.2 %

Shares of NYSE:CVS traded down $5.74 during trading on Tuesday, reaching $73.82. 23,626,900 shares of the company traded hands, compared to its average volume of 11,456,720. The firm has a market capitalization of $92.90 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.05 and a beta of 0.52. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average is $76.02 and its 200-day moving average is $73.70.

CVS Health (NYSE:CVSGet Free Report) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 earnings per share. As a group, analysts forecast that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.60%. CVS Health’s dividend payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada decreased their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Barclays assumed coverage on CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Finally, SVB Leerink assumed coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.44.

Read Our Latest Stock Report on CVS

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

CVS Health Profile

(Free Report)

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.

See Also

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

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