Corient Private Wealth LLC Lowers Holdings in CVS Health Co. (NYSE:CVS)

Corient Private Wealth LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 452,284 shares of the pharmacy operator’s stock after selling 21,913 shares during the period. Corient Private Wealth LLC’s holdings in CVS Health were worth $20,303,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp raised its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CVS Health by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock valued at $579,932,000 after buying an additional 710,281 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were 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 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 disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

CVS Health Stock Up 1.3 %

Shares of CVS stock opened at $67.49 on Wednesday. The company has a market capitalization of $85.09 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company’s fifty day moving average price is $59.32 and its 200-day moving average price is $57.12. 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 (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Sell-side analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.94%. CVS Health’s dividend payout ratio is currently 72.68%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Wolfe Research raised their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. UBS Group dropped their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Truist Financial raised their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued 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 an average target price of $69.83.

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.