Manchester Capital Management LLC Lowers Position in CVS Health Co. (NYSE:CVS)

Manchester Capital Management LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVSGet Rating) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,878 shares of the pharmacy operator’s stock after selling 2,091 shares during the period. Manchester Capital Management LLC’s holdings in CVS Health were worth $503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. West Bancorporation Inc. bought a new position in shares of CVS Health during the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc bought a new position in shares of CVS Health during the third quarter valued at approximately $26,000. Capital Advisors Ltd. LLC increased its stake in shares of CVS Health by 125.7% during the fourth quarter. Capital Advisors Ltd. LLC now owns 316 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 176 shares in the last quarter. Steph & Co. increased its stake in shares of CVS Health by 138.7% during the fourth quarter. Steph & Co. now owns 358 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 208 shares in the last quarter. Finally, Lowe Wealth Advisors LLC increased its stake in shares of CVS Health by 35.8% during the fourth quarter. Lowe Wealth Advisors LLC now owns 383 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 101 shares in the last quarter. 78.00% of the stock is owned by institutional investors and hedge funds.

Shares of CVS Health stock traded down $0.70 on Tuesday, hitting $98.16. 5,220,388 shares of the company’s stock were exchanged, compared to its average volume of 6,465,727. The company has a 50-day simple moving average of $103.51 and a 200-day simple moving average of $100.90. The stock has a market capitalization of $128.72 billion, a PE ratio of 16.42, a PEG ratio of 1.60 and a beta of 0.78. CVS Health Co. has a 1 year low of $79.33 and a 1 year high of $111.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.62 and a current ratio of 0.88.

CVS Health (NYSE:CVSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.08. The business had revenue of $76.83 billion for the quarter, compared to analysts’ expectations of $75.30 billion. CVS Health had a net margin of 2.67% and a return on equity of 15.33%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.04 EPS. On average, analysts expect that CVS Health Co. will post 8.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Friday, April 22nd were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Thursday, April 21st. CVS Health’s dividend payout ratio is presently 36.54%.

In related news, EVP Prem S. Shah sold 4,624 shares of CVS Health stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $106.65, for a total transaction of $493,149.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Daniel P. Finke sold 55,359 shares of CVS Health stock in a transaction on Monday, April 4th. The shares were sold at an average price of $100.13, for a total transaction of $5,543,096.67. Following the transaction, the executive vice president now owns 3,098 shares in the company, valued at approximately $310,202.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,283 shares of company stock worth $8,376,142. 0.69% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on the stock. Raymond James downgraded shares of CVS Health from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $115.00 to $120.00 in a research note on Friday, February 11th. StockNews.com began coverage on shares of CVS Health in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. BMO Capital Markets raised their price target on shares of CVS Health from $108.00 to $120.00 in a research report on Thursday, February 10th. Tigress Financial raised their price target on shares of CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Finally, Sanford C. Bernstein raised their price target on shares of CVS Health from $111.00 to $116.00 in a research report on Tuesday, January 11th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $114.90.

CVS Health Profile (Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Further Reading

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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