Convergence Investment Partners LLC Has $379,000 Stake in CVS Health Co. (NYSE:CVS)

Convergence Investment Partners LLC trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,450 shares of the pharmacy operator’s stock after selling 4,539 shares during the period. Convergence Investment Partners LLC’s holdings in CVS Health were worth $379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Advisors Network LLC raised its stake in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after purchasing an additional 200 shares during the period. Widmann Financial Services Inc. raised its position in CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after buying an additional 200 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of CVS Health by 7.8% in the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock valued at $175,000 after purchasing an additional 202 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after purchasing an additional 204 shares during the last quarter. Finally, Rogco LP raised its holdings in shares of CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company lifted their target price on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Evercore ISI boosted their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Barclays boosted their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value 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 $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $66.35 on Thursday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock’s 50 day moving average is $51.80 and its 200-day moving average is $56.12. 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 company has a market capitalization of $83.65 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts expect that CVS Health Co. will post 5.92 EPS for the current 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 $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.