CVS Health Co. (NYSE:CVS) Shares Sold by Violich Capital Management Inc.

Violich Capital Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 53.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 63,507 shares of the pharmacy operator’s stock after selling 73,478 shares during the period. Violich Capital Management Inc.’s holdings in CVS Health were worth $2,851,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health in the third quarter valued at $25,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVS. Royal Bank of Canada lowered their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Evercore ISI raised their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Performance

Shares of CVS opened at $54.24 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $50.79 and its two-hundred day moving average is $55.98. The firm has a market cap of $68.26 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.90%. CVS Health’s payout ratio is 67.51%.

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.