Farther Finance Advisors LLC Sells 2,913 Shares of CVS Health Co. (NYSE:CVS)

Farther Finance Advisors LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,797 shares of the pharmacy operator’s stock after selling 2,913 shares during the period. Farther Finance Advisors LLC’s holdings in CVS Health were worth $574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CVS. Versor Investments LP bought a new position in shares of CVS Health in the third quarter worth $371,000. GSA Capital Partners LLP bought a new position in shares of CVS Health in the third quarter worth $816,000. MQS Management LLC bought a new position in shares of CVS Health in the third quarter worth $237,000. Metis Global Partners LLC raised its position in shares of CVS Health by 1.4% in the third quarter. Metis Global Partners LLC now owns 40,064 shares of the pharmacy operator’s stock worth $2,519,000 after buying an additional 557 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of CVS Health by 2.4% in the third quarter. Royce & Associates LP now owns 87,000 shares of the pharmacy operator’s stock worth $5,471,000 after buying an additional 2,000 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 0.2 %

NYSE CVS opened at $65.63 on Friday. 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 stock has a market capitalization of $82.75 billion, a PE ratio of 17.93, a PEG ratio of 0.98 and a beta of 0.53. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The business’s 50-day moving average is $58.47 and its 200 day moving average is $56.98.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) 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%. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.05%. CVS Health’s payout ratio is 72.68%.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP James David Clark sold 7,513 shares of CVS Health 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 sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Barclays increased their price objective on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Argus set a $77.00 price target on CVS Health in a research report on Tuesday, February 18th. Finally, Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.83.

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.