Modera Wealth Management LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Modera Wealth Management LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,622 shares of the pharmacy operator’s stock after selling 8,207 shares during the period. Modera Wealth Management LLC’s holdings in CVS Health were worth $2,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Ridgewood Investments LLC increased its position 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 purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter worth approximately $28,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of CVS Health in the third quarter worth approximately $40,000. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CVS. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Trading Down 1.4 %

Shares of CVS stock opened at $64.82 on Tuesday. 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 has a market capitalization of $81.72 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The stock’s 50-day moving average price is $54.74 and its 200-day moving average price is $56.53.

CVS Health (NYSE:CVS) last released 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 return on equity of 9.11% and a net margin of 1.24%. Equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.10%. CVS Health’s payout ratio is currently 72.68%.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

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.