44 Wealth Management LLC Sells 9,645 Shares of CVS Health Co. (NYSE:CVS)

44 Wealth Management LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,343 shares of the pharmacy operator’s stock after selling 9,645 shares during the quarter. 44 Wealth Management LLC’s holdings in CVS Health were worth $1,542,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third quarter worth approximately $25,000. Ridgewood Investments LLC lifted its holdings 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 CVS Health in the 4th quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter valued at $32,000. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVS has been the topic of several research reports. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Evercore ISI upped their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

CVS Health Stock Performance

Shares of CVS opened at $63.42 on Friday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The firm has a fifty day simple moving average of $52.39 and a 200 day simple moving average of $56.23. The stock has a market capitalization of $79.95 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.98 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. Research analysts forecast 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. Investors 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 dividend payout ratio (DPR) is presently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price 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 in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health 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.