CVS Health Co. (NYSE:CVS) Shares Sold by Ledyard National Bank

Ledyard National Bank cut its position in CVS Health Co. (NYSE:CVS) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,963 shares of the pharmacy operator’s stock after selling 1,702 shares during the quarter. Ledyard National Bank’s holdings in CVS Health were worth $4,498,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its position in CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares during the last quarter. Apella Capital LLC grew its holdings in shares of CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after buying an additional 136 shares during the last quarter. Prairie Sky Financial Group LLC lifted its position in CVS Health by 4.1% during the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after acquiring an additional 141 shares during the period. WealthShield Partners LLC grew its stake in shares of CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after purchasing an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of CVS Health by 9.5% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

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 completion of 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 can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. SVB Leerink started coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Piper Sandler raised their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Price Performance

CVS Health stock traded up $0.26 during mid-day trading on Monday, hitting $67.44. 6,556,157 shares of the company were exchanged, compared to its average volume of 10,605,164. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The business’s 50 day simple moving average is $74.22 and its two-hundred day simple moving average is $73.65. The company has a market capitalization of $85.01 billion, a P/E ratio of 10.44, a PEG ratio of 0.89 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.99 EPS. Analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

About CVS Health

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.