CVS Health Co. (NYSE:CVS) Stock Position Cut by Wealth Alliance

Wealth Alliance lessened its stake in CVS Health Co. (NYSE:CVS) by 50.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,076 shares of the pharmacy operator’s stock after selling 6,093 shares during the quarter. Wealth Alliance’s holdings in CVS Health were worth $273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the 3rd quarter valued at about $31,000. Finally, Reston Wealth Management LLC bought a new position in shares of CVS Health during the 3rd quarter valued at about $32,000. Institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased 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 owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company raised their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research raised their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Truist Financial raised their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Price Performance

NYSE CVS opened at $63.42 on Friday. The company has a 50 day simple moving average of $52.39 and a 200-day simple moving average of $56.23. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market capitalization of $79.95 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.99 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 (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities research analysts predict that CVS Health Co. will post 5.9 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. CVS Health’s dividend payout ratio is currently 72.68%.

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.