Spinnaker Trust Has $3.30 Million Stock Position in CVS Health Co. (NYSE:CVS)

Spinnaker Trust cut its position in CVS Health Co. (NYSE:CVS) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,733 shares of the pharmacy operator’s stock after selling 2,600 shares during the period. Spinnaker Trust’s holdings in CVS Health were worth $3,295,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Atticus Wealth Management LLC increased its holdings in 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 purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of CVS Health by 111.5% in the third 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 during the last quarter. ZRC Wealth Management LLC lifted its position in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares in the last quarter. Coston McIsaac & Partners lifted its position in CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in CVS Health in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.2 %

Shares of CVS traded down $0.15 during midday trading on Friday, hitting $67.18. The stock had a trading volume of 6,393,752 shares, compared to its average volume of 10,655,146. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm has a market cap of $84.68 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52. The company has a 50 day simple moving average of $74.42 and a two-hundred day simple moving average of $73.64. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25.

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

CVS Health Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVS. Royal Bank of Canada lowered their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Piper Sandler increased their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Wells Fargo & Company cut their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Finally, StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by 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.