Pinnacle Financial Partners Inc Sells 39,946 Shares of CVS Health Co. (NYSE:CVS)

Pinnacle Financial Partners Inc trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 339,516 shares of the pharmacy operator’s stock after selling 39,946 shares during the period. Pinnacle Financial Partners Inc’s holdings in CVS Health were worth $15,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC grew its stake in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares during the period. Widmann Financial Services Inc. grew its stake in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the period. DT Investment Partners LLC boosted its holdings in shares of CVS Health by 7.8% in the 3rd quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after acquiring an additional 202 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after acquiring an additional 204 shares in the last quarter. Finally, Rogco LP boosted its holdings in shares of CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after acquiring an additional 210 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVS. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Leerink Partnrs raised 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Trading Down 2.6 %

Shares of NYSE:CVS opened at $63.42 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market capitalization of $79.95 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a 50-day simple moving average of $52.39 and a 200 day simple moving average of $56.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health’s dividend payout ratio (DPR) is presently 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.