Investment House LLC Trims Position in CVS Health Co. (NYSE:CVS)

Investment House LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 37.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,740 shares of the pharmacy operator’s stock after selling 8,390 shares during the period. Investment House LLC’s holdings in CVS Health were worth $617,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CVS. Pathstone Holdings LLC grew its position in CVS Health by 2.0% in the third quarter. Pathstone Holdings LLC now owns 222,285 shares of the pharmacy operator’s stock worth $13,977,000 after acquiring an additional 4,432 shares during the period. OneAscent Financial Services LLC purchased a new position in shares of CVS Health during the 3rd quarter worth $309,000. Meeder Asset Management Inc. raised its holdings in CVS Health by 2,925.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 10,285 shares of the pharmacy operator’s stock valued at $647,000 after buying an additional 9,945 shares during the period. Prospera Financial Services Inc boosted its stake in CVS Health by 5.8% during the third quarter. Prospera Financial Services Inc now owns 34,555 shares of the pharmacy operator’s stock worth $2,174,000 after buying an additional 1,908 shares during the period. Finally, Banque Cantonale Vaudoise boosted its position in shares of CVS Health by 1.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 36,545 shares of the pharmacy operator’s stock worth $2,298,000 after purchasing an additional 602 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CVS has been the topic of a number of research reports. Piper Sandler decreased their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. 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. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Stock Performance

Shares of CVS Health stock opened at $67.84 on Thursday. The firm has a market capitalization of $85.53 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm’s 50 day moving average is $59.76 and its two-hundred day moving average is $57.20.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Research analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. CVS Health’s dividend payout ratio is presently 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.