Consolidated Investment Group LLC Sells 52,500 Shares of CVS Health Co. (NYSE:CVS)

Consolidated Investment Group LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 82.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the pharmacy operator’s stock after selling 52,500 shares during the quarter. Consolidated Investment Group LLC’s holdings in CVS Health were worth $908,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Live Oak Investment Partners acquired a new position in shares of CVS Health during the 4th quarter worth approximately $25,000. Atticus Wealth Management LLC increased its stake in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new position in CVS Health during the second quarter worth approximately $37,000. Finally, ZRC Wealth Management LLC lifted its position in shares of CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $79.76 on Friday. The firm has a market cap of $100.37 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The firm’s fifty day moving average is $75.66 and its 200-day moving average is $73.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 8.33 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. HSBC assumed coverage on shares of CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price target on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Piper Sandler boosted their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, TD Cowen decreased their price target on shares of CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $90.21.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% 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.