Global Retirement Partners LLC Sells 2,531 Shares of CVS Health Co. (NYSE:CVS)

Global Retirement Partners LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,279 shares of the pharmacy operator’s stock after selling 2,531 shares during the period. Global Retirement Partners LLC’s holdings in CVS Health were worth $686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Bank of Jackson Hole Trust bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $153,000. New York State Common Retirement Fund grew its holdings in shares of CVS Health by 7.4% during the fourth quarter. New York State Common Retirement Fund now owns 2,146,907 shares of the pharmacy operator’s stock valued at $96,375,000 after buying an additional 148,040 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in CVS Health by 13.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 42,150 shares of the pharmacy operator’s stock worth $1,892,000 after purchasing an additional 4,904 shares in the last quarter. Kestra Investment Management LLC raised its position in CVS Health by 25.5% in the 4th quarter. Kestra Investment Management LLC now owns 6,806 shares of the pharmacy operator’s stock valued at $306,000 after buying an additional 1,384 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in CVS Health by 62.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator’s stock valued at $2,790,000 after acquiring an additional 23,849 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays increased their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial lifted 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.00.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $63.42 on Friday. The firm’s fifty day moving average price is $52.39 and its 200-day moving average price is $56.22. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. 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 stock has a market cap of $79.95 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last released 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 return on equity of 9.11% and a net margin of 1.24%. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share 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 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 yield of 4.19%. CVS Health’s payout ratio is 72.68%.

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.