Truist Financial Corp Sells 109,707 Shares of CVS Health Co. (NYSE:CVS)

Truist Financial Corp cut its stake in shares of CVS Health Co. (NYSE:CVS) by 27.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,610 shares of the pharmacy operator’s stock after selling 109,707 shares during the period. Truist Financial Corp’s holdings in CVS Health were worth $12,866,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC lifted its stake in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP lifted its stake in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after acquiring an additional 2,371,563 shares in the last quarter. State Street Corp raised its stake in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP bought a new stake in shares of CVS Health during the 3rd quarter worth $121,987,000. Finally, Pathway Financial Advisers LLC raised its stake in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 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, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

CVS Health Stock Down 1.8 %

CVS stock opened at $65.20 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $82.21 billion, a PE ratio of 17.81, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a 50-day simple moving average of $52.11 and a two-hundred day simple moving average of $56.18.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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, equities analysts predict that CVS Health Co. will post 5.91 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Evercore ISI lifted their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Wolfe Research lifted their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their target price on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. TD Cowen lifted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

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.