PNC Financial Services Group Inc. Has $26.94 Million Stake in CVS Health Co. (NYSE:CVS)

PNC Financial Services Group Inc. cut its position in CVS Health Co. (NYSE:CVS) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600,061 shares of the pharmacy operator’s stock after selling 144,567 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CVS Health were worth $26,937,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Widmann Financial Services Inc. lifted its holdings in shares of CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after buying an additional 200 shares during the period. EagleClaw Capital Managment LLC increased its position in CVS Health by 3.4% during the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after acquiring an additional 200 shares during the last quarter. Manchester Capital Management LLC boosted its position in CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after purchasing an additional 204 shares during the last quarter. Rogco LP grew its stake in shares of CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after purchasing an additional 210 shares during the period. Finally, Lindbrook Capital LLC increased its position in shares of CVS Health by 3.8% during the 4th quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator’s stock valued at $304,000 after purchasing an additional 248 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 1.8 %

CVS opened at $65.13 on Tuesday. The company has a market capitalization of $82.11 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The firm has a 50-day simple moving average of $56.84 and a two-hundred day simple moving average of $56.78. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly 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%. Analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health 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 completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.83.

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.