CVS Health Co. (NYSE:CVS) Shares Sold by Family Legacy Inc.

Family Legacy Inc. reduced its stake in CVS Health Co. (NYSE:CVS) by 9.6% during the 4th quarter, HoldingsChannel reports. The firm owned 9,430 shares of the pharmacy operator’s stock after selling 1,006 shares during the period. Family Legacy Inc.’s holdings in CVS Health were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CVS. Legacy Investment Solutions LLC purchased a new position in CVS Health in the third quarter valued at about $31,000. Ridgewood Investments LLC increased its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter worth $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the 4th quarter worth about $29,000. Finally, Financial Perspectives Inc grew its stake in 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. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In other news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $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 insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVS. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. UBS Group decreased their target price 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. Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Finally, StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Price Performance

Shares of CVS stock opened at $67.13 on Monday. The business has a fifty day simple moving average of $62.12 and a 200 day simple moving average of $57.68. The company has a market cap 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. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $79.98. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued 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 yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is presently 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.