AGF Management Ltd. Sells 106,468 Shares of CVS Health Co. (NYSE:CVS)

AGF Management Ltd. decreased its position in CVS Health Co. (NYSE:CVS) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 204,363 shares of the pharmacy operator’s stock after selling 106,468 shares during the quarter. AGF Management Ltd.’s holdings in CVS Health were worth $9,174,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC increased its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc lifted its position in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $64.98 on Wednesday. CVS Health Co. has a one year low of $43.56 and a one year 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 $81.92 billion, a PE ratio of 17.75, a P/E/G ratio of 0.98 and a beta of 0.53. The stock has a 50 day moving average price of $57.24 and a 200 day moving average price of $56.83.

CVS Health (NYSE:CVS) last issued 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%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVS. Wells Fargo & Company boosted their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Evercore ISI upped their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Piper Sandler reduced their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased 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 of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.