Ieq Capital LLC Sells 8,223 Shares of CVS Health Co. (NYSE:CVS)

Ieq Capital LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,121 shares of the pharmacy operator’s stock after selling 8,223 shares during the period. Ieq Capital LLC’s holdings in CVS Health were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC increased its holdings in CVS Health by 34.8% in the 3rd 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 in the last quarter. ARGA Investment Management LP increased its stake in shares of 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 worth $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. State Street Corp lifted its stake in shares of CVS Health by 3.6% during 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 buying an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the 3rd quarter worth $121,987,000. Finally, Pathway Financial Advisers LLC raised its holdings in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost 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 $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on CVS shares. Evercore ISI lifted their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Piper Sandler dropped their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. TD Cowen lifted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, UBS Group dropped their price target 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. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Trading Down 0.8 %

Shares of NYSE CVS opened at $62.95 on Tuesday. The business’s 50 day moving average price is $52.72 and its 200-day moving average price is $56.25. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. 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 cap of $79.37 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. On average, sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.23%. CVS Health’s dividend payout ratio (DPR) is currently 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.