Tyler Stone Wealth Management Sells 495 Shares of CVS Health Co. (NYSE:CVS)

Tyler Stone Wealth Management reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,674 shares of the pharmacy operator’s stock after selling 495 shares during the quarter. Tyler Stone Wealth Management’s holdings in CVS Health were worth $434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Engines Advisors L.L.C. purchased a new position in shares of CVS Health in the 4th quarter worth about $366,000. Morey & Quinn Wealth Partners LLC purchased a new position in CVS Health in the fourth quarter valued at about $787,000. Ipsen Advisor Group LLC bought a new position in shares of CVS Health during the 4th quarter valued at approximately $303,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $63,000. Finally, Zions Bancorporation N.A. raised its holdings in shares of CVS Health by 17.4% in the 4th quarter. Zions Bancorporation N.A. now owns 4,944 shares of the pharmacy operator’s stock worth $222,000 after purchasing an additional 732 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $67.16 on Thursday. The firm has a 50 day simple moving average of $61.52 and a two-hundred day simple moving average of $57.53. The stock has a market cap of $84.68 billion, a PE ratio of 18.35, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Piper Sandler boosted their target price on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Truist Financial raised their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Four research 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. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.39.

About CVS Health

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.