CVS Health Co. (NYSE:CVS) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 55.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,503 shares of the pharmacy operator’s stock after selling 3,088 shares during the period. Brown Brothers Harriman & Co.’s holdings in CVS Health were worth $112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. EagleClaw Capital Managment LLC increased its position in shares of CVS Health by 3.4% during the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC boosted its stake in CVS Health by 4.8% during the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after buying an additional 204 shares in the last quarter. Angeles Investment Advisors LLC raised its stake in shares of CVS Health by 3.7% in the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock valued at $256,000 after buying an additional 204 shares in the last quarter. Rogco LP lifted its holdings in shares of CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after acquiring an additional 210 shares during the period. Finally, Cozad Asset Management Inc. boosted its position in shares of CVS Health by 3.7% during the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator’s stock valued at $293,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $67.88 on Wednesday. The company has a fifty day moving average price of $62.72 and a two-hundred day moving average price of $57.83. The firm has a market capitalization of $85.59 billion, a PE ratio of 18.55, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $75.27. 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 released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. As a group, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.92%. CVS Health’s dividend payout ratio (DPR) is presently 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 on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Barclays increased their price objective on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial boosted their target price 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. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

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.