CVS Health Co. (NYSE:CVS) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,706 shares of the pharmacy operator’s stock after selling 14,058 shares during the period. Quantbot Technologies LP’s holdings in CVS Health were worth $4,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC boosted its holdings in shares of CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Sompo Asset Management Co. Ltd. lifted its holdings in CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after buying an additional 10,453 shares in the last quarter. Hall Laurie J Trustee increased its stake in shares of CVS Health by 25,484.4% in the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after buying an additional 11,468 shares during the last quarter. Finally, B&D White Capital Company LLC bought a new position in CVS Health during the 4th quarter worth approximately $417,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group reduced their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Truist Financial boosted their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Price Performance

Shares of NYSE:CVS opened at $65.63 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a market cap of $82.75 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $58.47 and a 200 day moving average of $57.00.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health’s payout ratio is 72.68%.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost 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 in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.