Pacific Capital Wealth Advisors Inc. Takes Position in CVS Health Co. (NYSE:CVS)

Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,714 shares of the pharmacy operator’s stock, valued at approximately $135,000.

A number of other hedge funds have also recently modified their holdings of CVS. Atticus Wealth Management LLC lifted its stake in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares in the last quarter. ZRC Wealth Management LLC lifted its stake in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares in the last quarter. Coston McIsaac & Partners lifted its stake in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of CVS Health during the 4th quarter valued at $50,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.5 %

NYSE:CVS traded down $0.81 during mid-day trading on Wednesday, hitting $54.93. 13,618,157 shares of the stock traded hands, compared to its average volume of 11,890,314. The stock has a market capitalization of $68.96 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.88 and a beta of 0.56. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The firm’s 50 day moving average is $71.95 and its two-hundred day moving average is $73.09. 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 issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, equities research analysts predict that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVS. Truist Financial restated a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Bank of America decreased their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company decreased their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.67.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the business’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 transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

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.