Atlantic Union Bankshares Corp Decreases Stake in CVS Health Co. (NYSE:CVS)

Atlantic Union Bankshares Corp lowered its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,183 shares of the pharmacy operator's stock after selling 13,466 shares during the period. Atlantic Union Bankshares Corp's holdings in CVS Health were worth $3,016,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock valued at $90,200,000 after purchasing an additional 66,244 shares during the period. Verity Asset Management Inc. raised its stake in shares of CVS Health by 7.2% during the 3rd quarter. Verity Asset Management Inc. now owns 4,713 shares of the pharmacy operator's stock valued at $296,000 after purchasing an additional 316 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of CVS Health during the 3rd quarter valued at $99,000. CWA Asset Management Group LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $777,000. Finally, SpiderRock Advisors LLC raised its stake in shares of CVS Health by 3.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 10,807 shares of the pharmacy operator's stock valued at $680,000 after purchasing an additional 332 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were acquired 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 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now 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. 0.24% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of brokerages have weighed in on CVS. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Wells Fargo & Company upped 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. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Finally, Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Four 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.83.

CVS Health Price Performance

NYSE:CVS traded up $1.09 during trading hours on Friday, hitting $66.34. 10,082,148 shares of the stock traded hands, compared to its average volume of 11,965,158. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The stock has a 50 day moving average price of $56.42 and a 200 day moving average price of $56.73. 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 company has a market cap of $83.64 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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 EPS for the current fiscal year.

CVS Health Dividend Announcement

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 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health's payout ratio is 72.68%.

CVS Health Company Profile

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.