CVS Health Co. (NYSE:CVS) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 50.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,076 shares of the pharmacy operator’s stock after selling 6,093 shares during the period. Wealth Alliance’s holdings in CVS Health were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $32,000. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% during 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 period. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $28,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday. TD Cowen lifted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Wolfe Research upped their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Stock Down 2.6 %

Shares of NYSE:CVS opened at $63.42 on Friday. The stock 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 1-year low of $43.56 and a 1-year high of $80.75. The company’s fifty day moving average is $52.39 and its two-hundred day moving average is $56.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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 analysts anticipate that CVS Health Co. will post 5.9 EPS for the current year.

CVS Health Announces Dividend

The company 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 4.19%. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Company 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.