Northcape Wealth Management LLC Sells 999 Shares of CVS Health Co. (NYSE:CVS)

Northcape Wealth Management LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,397 shares of the pharmacy operator’s stock after selling 999 shares during the quarter. Northcape Wealth Management LLC’s holdings in CVS Health were worth $2,242,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

CVS has been the topic of a number of analyst reports. Barclays started coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. Piper Sandler increased their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Wells Fargo & Company reduced their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.28 during midday trading on Tuesday, reaching $67.73. 13,476,347 shares of the stock were exchanged, compared to its average volume of 10,639,692. The firm has a 50-day simple moving average of $74.22 and a two-hundred day simple moving average of $73.65. The firm has a market cap of $85.37 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.89 and a beta of 0.52. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the previous year, the firm earned $1.99 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Insider Transactions at CVS Health

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 shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Company 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.