CVS Health Co. (NYSE:CVS) Shares Sold by Foundations Investment Advisors LLC

Posted by Defense World Staff on Mar 20th, 2023

Foundations Investment Advisors LLC reduced its stake in CVS Health Co. (NYSE:CVS – Get Rating) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,986 shares of the pharmacy operator’s stock after selling 2,713 shares during the period. Foundations Investment Advisors LLC’s holdings in CVS Health were worth $837,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its holdings in CVS Health by 5.0% in the 4th quarter. CWA Asset Management Group LLC now owns 12,665 shares of the pharmacy operator’s stock valued at $1,180,000 after purchasing an additional 605 shares in the last quarter. Diversified Trust Co increased its holdings in CVS Health by 1.0% in the 3rd quarter. Diversified Trust Co now owns 14,899 shares of the pharmacy operator’s stock valued at $1,421,000 after purchasing an additional 145 shares in the last quarter. Carnegie Capital Asset Management LLC increased its holdings in CVS Health by 28.9% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 55,867 shares of the pharmacy operator’s stock valued at $5,328,000 after purchasing an additional 12,527 shares in the last quarter. Bond & Devick Financial Network Inc. grew its stake in shares of CVS Health by 1.9% during the third quarter. Bond & Devick Financial Network Inc. now owns 10,820 shares of the pharmacy operator’s stock valued at $1,032,000 after acquiring an additional 200 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of CVS Health by 1.3% during the second quarter. Royal London Asset Management Ltd. now owns 470,446 shares of the pharmacy operator’s stock valued at $43,601,000 after acquiring an additional 6,045 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Wells Fargo & Company lowered their target price on CVS Health from $106.00 to $101.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 3rd. Jefferies Financial Group raised their target price on CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Credit Suisse Group raised their target price on CVS Health from $117.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 21st. Finally, Raymond James reduced their price target on shares of CVS Health from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, February 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.65.

CVS Health Stock Performance

Shares of NYSE CVS opened at $74.37 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $85.40 and its two-hundred day moving average price is $92.97. CVS Health Co. has a 52-week low of $73.91 and a 52-week high of $109.69. The stock has a market capitalization of $95.50 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.15 and a beta of 0.65.

CVS Health (NYSE:CVS – Get Rating) last issued its earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.07. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. The firm had revenue of $83.85 billion for the quarter, compared to analysts’ expectations of $76.37 billion. During the same quarter last year, the company posted $1.98 earnings per share. CVS Health’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 8.84 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, April 21st will be issued a dividend of $0.605 per share. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.25%. CVS Health’s dividend payout ratio (DPR) is presently 77.56%.

About CVS Health

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.