Pine Valley Investments Ltd Liability Co Sells 4,009 Shares of CVS Health Co. (NYSE:CVS)

Pine Valley Investments Ltd Liability Co trimmed its stake in CVS Health Co. (NYSE:CVS) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,742 shares of the pharmacy operator’s stock after selling 4,009 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in CVS Health were worth $752,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health during the third quarter valued at approximately $32,000. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

CVS opened at $63.78 on Thursday. The stock has a fifty day simple moving average of $53.48 and a two-hundred day simple moving average of $56.34. 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 company has a market cap of $80.42 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. Research 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 disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.17%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent research reports. Wolfe Research increased their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Piper Sandler dropped their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. UBS Group dropped their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

About CVS Health

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.