Sanibel Captiva Trust Company Inc. Decreases Stake in CVS Health Co. (NYSE:CVS)

Sanibel Captiva Trust Company Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,396 shares of the pharmacy operator’s stock after selling 13,337 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in CVS Health were worth $2,038,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Avanza Fonder AB acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $4,745,000. Sterling Financial Group Inc. increased its stake in CVS Health by 16.4% in the 4th quarter. Sterling Financial Group Inc. now owns 15,363 shares of the pharmacy operator’s stock valued at $690,000 after purchasing an additional 2,169 shares in the last quarter. Empirical Asset Management LLC raised its holdings in CVS Health by 816.4% during the fourth quarter. Empirical Asset Management LLC now owns 36,885 shares of the pharmacy operator’s stock worth $1,656,000 after purchasing an additional 32,860 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in CVS Health by 38.7% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,168 shares of the pharmacy operator’s stock worth $52,000 after purchasing an additional 326 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of CVS Health by 16.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,101 shares of the pharmacy operator’s stock valued at $409,000 after buying an additional 1,296 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research reports. UBS Group increased their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Performance

CVS Health stock opened at $52.72 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a market cap of $66.35 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. The stock’s 50-day moving average is $51.34 and its 200-day moving average is $56.34.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. Equities analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.05%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.