CVS Health Co. (NYSE:CVS) Position Lessened by ProVise Management Group LLC

ProVise Management Group LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 77.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,674 shares of the pharmacy operator’s stock after selling 60,997 shares during the quarter. ProVise Management Group LLC’s holdings in CVS Health were worth $793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC raised its holdings 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 acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health during the fourth quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the third quarter worth $31,000. Finally, Financial Perspectives Inc raised its holdings in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly 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. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Up 0.4 %

NYSE CVS opened at $67.84 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average is $59.76 and its two-hundred day moving average is $57.20. The company has a market capitalization of $85.53 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. UBS Group cut their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Barclays raised their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.83.

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.