CVS Health Co. (NYSE:CVS) Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 486,322 shares of the pharmacy operator’s stock after selling 11,542 shares during the quarter. Applied Finance Capital Management LLC’s holdings in CVS Health were worth $21,831,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the 3rd quarter worth about $31,000. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the 4th quarter worth approximately $29,000. Finally, Financial Perspectives Inc lifted its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Argus set a $77.00 price target on CVS Health in a research report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Wolfe Research raised their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler boosted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, Barclays raised their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Stock Performance

NYSE CVS opened at $63.79 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $74.85. The firm has a market capitalization of $80.43 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.98 and a beta of 0.57. The business’s 50-day simple moving average is $63.62 and its 200-day simple moving average is $58.05.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating 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 analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio 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.