QRG Capital Management Inc. Has $4.55 Million Stock Position in CVS Health Co. (NYSE:CVS)

QRG Capital Management Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 25.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,318 shares of the pharmacy operator’s stock after selling 34,888 shares during the quarter. QRG Capital Management Inc.’s holdings in CVS Health were worth $4,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter worth $25,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health during the fourth quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the third quarter valued at about $31,000. Finally, Reston Wealth Management LLC acquired a new stake in CVS Health in the third quarter worth about $32,000. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 2.1 %

Shares of CVS stock opened at $65.85 on Friday. The stock has a market cap of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. The stock has a 50-day moving average of $54.33 and a 200-day moving average of $56.46. 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 Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVS) last posted 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%. On average, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. CVS Health’s dividend payout ratio is currently 72.68%.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several recent research reports. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Barclays raised 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. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.83.

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.