TIAA Trust National Association Has $1.39 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

TIAA Trust National Association lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,016 shares of the pharmacy operator’s stock after selling 4,391 shares during the period. TIAA Trust National Association’s holdings in CVS Health were worth $1,392,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in CVS Health by 258.9% during the third quarter. Larson Financial Group LLC now owns 3,542 shares of the pharmacy operator’s stock worth $223,000 after acquiring an additional 2,555 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of CVS Health by 7.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,096,238 shares of the pharmacy operator’s stock worth $68,931,000 after purchasing an additional 79,132 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of CVS Health in the 3rd quarter valued at about $326,000. RPg Family Wealth Advisory LLC acquired a new position in CVS Health during the 3rd quarter worth approximately $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CVS Health by 3.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock worth $16,424,000 after acquiring an additional 9,418 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVS. Barclays upped their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Truist Financial lifted their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four investment 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 company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Stock Performance

NYSE CVS opened at $67.59 on Friday. The company has a market capitalization of $85.22 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a 50-day simple moving average of $61.83 and a 200 day simple moving average of $57.60.

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

CVS Health Dividend Announcement

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. This represents a $2.66 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was purchased 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 directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents 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.

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.