Intact Investment Management Inc. Sells 54,000 Shares of CVS Health Co. (NYSE:CVS)

Intact Investment Management Inc. decreased its holdings in CVS Health Co. (NYSE:CVS) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,300 shares of the pharmacy operator’s stock after selling 54,000 shares during the period. Intact Investment Management Inc.’s holdings in CVS Health were worth $6,814,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CVS. SOA Wealth Advisors LLC. lifted its stake in CVS Health by 4.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares during the last quarter. Apella Capital LLC raised its stake in shares of CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after acquiring an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC raised its stake 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 acquiring an additional 141 shares in the last quarter. WealthShield Partners LLC raised its stake in shares of CVS Health by 3.2% during the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after acquiring an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of 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 acquiring an additional 142 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.2 %

Shares of CVS traded down $0.15 during mid-day trading on Friday, reaching $67.18. 6,396,438 shares of the company were exchanged, compared to its average volume of 8,376,818. The stock has a market capitalization of $84.68 billion, a PE ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The business has a 50 day simple moving average of $74.42 and a two-hundred day simple moving average of $73.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.99 EPS. On average, analysts predict that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVS shares. SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, Wells Fargo & Company decreased their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.