CVS Health Co. (NYSE:CVS) Shares Sold by Violich Capital Management Inc.

Violich Capital Management Inc. lowered its holdings in CVS Health Co. (NYSE:CVS) by 53.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 63,507 shares of the pharmacy operator’s stock after selling 73,478 shares during the period. Violich Capital Management Inc.’s holdings in CVS Health were worth $2,851,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health during the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the 3rd quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in CVS Health in the 3rd quarter worth about $33,000. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $66.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Performance

Shares of CVS opened at $54.24 on Tuesday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a 50-day moving average of $50.79 and a two-hundred day moving average of $55.98. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market cap of $68.26 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.60 and a beta of 0.61.

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. This represents a $2.66 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

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.