CVS Health Co. (NYSE:CVS) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association increased its position in shares of CVS Health Co. (NYSE:CVS) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 40,844 shares of the pharmacy operator’s stock after purchasing an additional 369 shares during the period. TIAA Trust National Association’s holdings in CVS Health were worth $3,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Prairie Sky Financial Group LLC raised its holdings in shares of CVS Health by 4.1% during the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock valued at $285,000 after buying an additional 141 shares during the last quarter. WealthShield Partners LLC boosted its holdings in shares of CVS Health by 3.2% in the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after buying an additional 141 shares during the period. Red Door Wealth Management LLC grew its position in CVS Health by 3.2% during the 4th quarter. Red Door Wealth Management LLC now owns 4,551 shares of the pharmacy operator’s stock worth $359,000 after purchasing an additional 142 shares in the last quarter. Dixon Fnancial Services Inc. lifted its holdings in shares of CVS Health by 2.4% in the fourth quarter. Dixon Fnancial Services Inc. now owns 6,195 shares of the pharmacy operator’s stock valued at $489,000 after purchasing an additional 144 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 146 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Mizuho decreased their price target on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and lowered their price target for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Barclays cut their price objective on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Finally, Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

CVS stock traded down $0.52 during mid-day trading on Monday, reaching $58.39. 3,710,928 shares of the stock traded hands, compared to its average volume of 11,622,082. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $58.64 and a two-hundred day moving average of $68.05. The firm has a market capitalization of $73.30 billion, a PE ratio of 10.47, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

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). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.56%. CVS Health’s dividend payout ratio is 46.75%.

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.