Erste Asset Management GmbH lowered its stake in CVS Health Co. (NYSE:CVS – Free Report) by 83.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,692 shares of the pharmacy operator’s stock after selling 82,829 shares during the quarter. Erste Asset Management GmbH’s holdings in CVS Health were worth $743,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the 3rd quarter valued at $25,000. Ridgewood Investments LLC increased its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health during the 4th quarter valued at $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in CVS Health during the 3rd quarter valued at $31,000. Institutional investors own 80.66% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. UBS Group cut their price objective 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. Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Finally, Barclays lifted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.
CVS Health Trading Down 0.2 %
Shares of CVS Health stock opened at $65.63 on Friday. The stock’s 50-day simple moving average is $58.47 and its 200 day simple moving average is $56.98. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The stock has a market capitalization of $82.75 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.98 and a beta of 0.53. 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 – Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.
CVS Health Dividend Announcement
The business also recently declared 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 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 72.68%.
Insider Activity
In related news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $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. Company 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.
Recommended Stories
- Five stocks we like better than CVS Health
- Transportation Stocks Investing
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- Best Stocks Under $10.00
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS – Free Report).
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.