Sigma Planning Corp Has $1.01 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Sigma Planning Corp trimmed its position in CVS Health Co. (NYSE:CVS) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,402 shares of the pharmacy operator’s stock after selling 2,384 shares during the quarter. Sigma Planning Corp’s holdings in CVS Health were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at about $25,000. Ridgewood Investments LLC grew its holdings in 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 last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health in the third quarter valued at approximately $32,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVS. Truist Financial upped their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group reduced their target price 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. Wolfe Research boosted their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Four research 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, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Price Performance

Shares of CVS Health stock opened at $63.65 on Wednesday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The firm’s 50-day moving average price is $53.11 and its two-hundred day moving average price is $56.29. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $80.24 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.98 and a beta of 0.61.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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.