Synovus Financial Corp Has $3.59 Million Position in CVS Health Co. (NYSE:CVS)

Synovus Financial Corp lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 20.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 79,951 shares of the pharmacy operator's stock after selling 20,155 shares during the period. Synovus Financial Corp's holdings in CVS Health were worth $3,589,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Ridgewood Investments LLC raised its holdings in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. Financial Perspectives Inc raised its stake in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. grew its holdings in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after buying an additional 437 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVS. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research note on Tuesday. Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and raised their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Mizuho upped their price target on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Robert W. Baird raised their price objective on CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.83.

CVS Health Price Performance

NYSE CVS traded down $1.37 on Friday, hitting $67.19. 16,054,208 shares of the company were exchanged, compared to its average volume of 11,811,363. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $71.45. The company has a market cap of $84.71 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.98 and a beta of 0.57. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $66.46 and a two-hundred day moving average of $58.79.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, equities analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 72.68%.

Insider Activity at CVS Health

In other CVS Health news, 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 completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the company'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 acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

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.