CVS Health Co. (NYSE:CVS) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 66.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,644 shares of the pharmacy operator’s stock after selling 23,585 shares during the period. Twin Capital Management Inc.’s holdings in CVS Health were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ridgewood Investments LLC boosted its stake in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health during the 4th quarter worth $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the third quarter worth about $31,000. Finally, Financial Perspectives Inc grew its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In related news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several research analyst reports. Barclays boosted their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Wolfe Research increased their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Finally, UBS Group dropped their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.39.

CVS Health Trading Up 0.2 %

CVS stock opened at $63.79 on Tuesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $74.85. The company has a market cap of $80.43 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $63.62 and a 200-day simple moving average of $58.05.

CVS Health (NYSE:CVS) last released its quarterly earnings data 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%. On average, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

CVS Health Company 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.