Synovus Financial Corp Has $3.59 Million Position in CVS Health Co. (NYSE:CVS)

Synovus Financial Corp decreased its stake in CVS Health Co. (NYSE:CVS) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,951 shares of the pharmacy operator’s stock after selling 20,155 shares during the period. Synovus Financial Corp’s holdings in CVS Health were worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in CVS Health during the third quarter valued at $409,000. Westside Investment Management Inc. boosted its position in shares of CVS Health by 4.6% during the 3rd quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator’s stock valued at $4,041,000 after purchasing an additional 2,856 shares in the last quarter. World Investment Advisors LLC grew its stake in CVS Health by 280.7% during the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock worth $1,732,000 after purchasing an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in CVS Health in the third quarter worth approximately $2,071,000. Finally, Tidal Investments LLC lifted its stake in CVS Health by 52.2% in the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after buying an additional 38,408 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated 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 in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research reports. Barclays boosted their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Mizuho boosted their price objective on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $71.28.

CVS Health Stock Down 0.5 %

CVS stock opened at $69.15 on Tuesday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $71.66. The stock has a market cap of $87.18 billion, a P/E ratio of 18.89, a P/E/G ratio of 0.98 and a beta of 0.57. The stock’s fifty day simple moving average is $65.37 and its two-hundred day simple moving average is $58.58. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.85%. CVS Health’s payout ratio is 72.68%.

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.