Magnus Financial Group LLC Sells 11,551 Shares of CVS Health Co. (NYSE:CVS)

Magnus Financial Group LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 79.0% during the 4th quarter, Holdings Channel reports. The firm owned 3,074 shares of the pharmacy operator’s stock after selling 11,551 shares during the period. Magnus Financial Group LLC’s holdings in CVS Health were worth $243,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVS. Bryn Mawr Capital Management LLC grew its holdings in CVS Health by 74.0% during the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after acquiring an additional 18,385 shares during the period. Value Partners Investments Inc. boosted its position in shares of CVS Health by 26.5% in the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC increased its holdings in CVS Health by 1.6% in the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after purchasing an additional 774 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in CVS Health by 2.3% in the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after buying an additional 233 shares during the period. Finally, Personal CFO Solutions LLC grew its position in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after buying an additional 491 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective on the stock. Piper Sandler boosted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Royal Bank of Canada dropped their price objective on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. SVB Leerink began coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price for the company. Finally, StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $67.44 on Tuesday. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The stock has a market cap of $85.01 billion, a PE ratio of 10.44, a P/E/G ratio of 0.89 and a beta of 0.52. The firm has a 50-day moving average of $74.22 and a 200-day moving average of $73.65. 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 posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.99 EPS. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

CVS Health 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.