Quadrant Capital Group LLC Sells 1,869 Shares of CVS Health Co. (NYSE:CVS)

Quadrant Capital Group LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 27.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,872 shares of the pharmacy operator’s stock after selling 1,869 shares during the period. Quadrant Capital Group LLC’s holdings in CVS Health were worth $219,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC boosted its position 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 worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the 4th quarter worth about $29,000. Financial Perspectives Inc increased its stake in shares of CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Finally, Compass Planning Associates Inc acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred 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 completion of the acquisition, the director now 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents 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.

Analysts Set New Price Targets

CVS has been the subject of a number of analyst reports. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Piper Sandler lifted their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Price Performance

Shares of NYSE CVS opened at $67.64 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business has a 50-day moving average of $64.03 and a 200-day moving average of $58.18. The stock has a market capitalization of $85.28 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $74.85.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

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.