Sigma Planning Corp Sells 2,384 Shares of CVS Health Co. (NYSE:CVS)

Sigma Planning Corp lowered its position in shares of CVS Health Co. (NYSE:CVS) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,402 shares of the pharmacy operator’s stock after selling 2,384 shares during the quarter. Sigma Planning Corp’s holdings in CVS Health were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the third quarter valued at approximately $32,000. 80.66% of the stock is currently owned by institutional investors.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by insiders.

CVS Health Price Performance

NYSE:CVS opened at $63.65 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market cap of $80.24 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.98 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. The firm’s 50-day simple moving average is $53.11 and its 200 day simple moving average is $56.29.

CVS Health (NYSE:CVS) last released 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%. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. TD Cowen raised their target price 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. Evercore ISI boosted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Barclays boosted their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

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.