CVS Health Co. (NYSE:CVS) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774,035 shares of the pharmacy operator’s stock after selling 16,133 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of CVS Health worth $34,746,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CVS. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the third quarter worth $31,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in CVS Health in the fourth quarter worth approximately $28,000. RPg Family Wealth Advisory LLC acquired a new position in CVS Health during the 3rd quarter worth approximately $40,000. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health during the 4th quarter worth $29,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVS shares. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Barclays boosted their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.39.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price 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 in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was 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.

CVS Health Stock Performance

Shares of CVS opened at $67.16 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $61.52 and a 200-day simple moving average of $57.53. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a market capitalization of $84.68 billion, a PE ratio of 18.35, a P/E/G ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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%. Equities research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

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.