CVS Health Co. (NYSE:CVS) Shares Sold by PARUS FINANCE UK Ltd

PARUS FINANCE UK Ltd trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,530 shares of the pharmacy operator’s stock after selling 2,630 shares during the quarter. CVS Health makes up 1.5% of PARUS FINANCE UK Ltd’s portfolio, making the stock its 18th biggest position. PARUS FINANCE UK Ltd’s holdings in CVS Health were worth $4,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CVS. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc boosted its position in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial raised their price objective 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. JPMorgan Chase & Co. increased their price target on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

CVS Health Trading Down 0.7 %

NYSE:CVS opened at $67.13 on Friday. 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 $84.64 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.98 and a beta of 0.54. The stock’s 50 day moving average price is $62.12 and its 200 day moving average price is $57.67. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $79.98.

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 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%. On average, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company 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 $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s payout ratio is 72.68%.

CVS Health 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.