Atria Investments Inc Lowers Position in CVS Health Co. (NYSE:CVS)

Atria Investments Inc cut its stake in CVS Health Co. (NYSE:CVS) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,902 shares of the pharmacy operator’s stock after selling 4,308 shares during the period. Atria Investments Inc’s holdings in CVS Health were worth $2,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Widmann Financial Services Inc. lifted its holdings in CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC lifted its holdings in CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after buying an additional 204 shares during the period. Rogco LP lifted its holdings in CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after buying an additional 210 shares during the period. Glass Jacobson Investment Advisors llc lifted its holdings in CVS Health by 26.8% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,220 shares of the pharmacy operator’s stock worth $77,000 after buying an additional 258 shares during the period. Finally, CKW Financial Group lifted its holdings in CVS Health by 9.1% in the fourth quarter. CKW Financial Group now owns 3,600 shares of the pharmacy operator’s stock worth $162,000 after buying an additional 300 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVS shares. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Wolfe Research raised their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.83.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.7 %

NYSE:CVS opened at $66.34 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a market cap of $83.64 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a 50 day simple moving average of $56.42 and a two-hundred day simple moving average of $56.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. Research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 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.