CVS Health Co. (NYSE:CVS) Shares Sold by CM Management LLC

CM Management LLC decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 28.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,000 shares of the pharmacy operator’s stock after selling 10,000 shares during the quarter. CM Management LLC’s holdings in CVS Health were worth $1,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Davis Selected Advisers boosted its holdings in CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the period. Raymond James Financial Inc. purchased a new position in CVS Health during the fourth quarter worth about $116,033,000. ARGA Investment Management LP lifted its position in CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares during the period. Finally, State Street Corp boosted its holdings in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The purchase 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 dated 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 directly 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. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial raised their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Stock Up 1.7 %

Shares of CVS stock opened at $66.34 on Friday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock’s 50 day simple moving average is $56.42 and its 200 day simple moving average is $56.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 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.