Signaturefd LLC Reduces Holdings in CVS Health Co. (NYSE:CVS)

Signaturefd LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 20.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,875 shares of the pharmacy operator’s stock after selling 3,511 shares during the period. Signaturefd LLC’s holdings in CVS Health were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in CVS Health during the 3rd quarter worth approximately $31,000. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% in the fourth 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 period. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter worth approximately $28,000. RPg Family Wealth Advisory LLC purchased a new stake in CVS Health in the 3rd quarter valued at $40,000. Finally, Hopwood Financial Services Inc. acquired a new stake in CVS Health during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Stock Performance

CVS opened at $67.84 on Thursday. The stock’s 50 day simple moving average is $59.76 and its 200 day simple moving average is $57.20. The stock has a market cap of $85.53 billion, a P/E ratio of 18.54, a P/E/G 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. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings results 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%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.92%. CVS Health’s dividend payout ratio is presently 72.68%.

CVS Health Company 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.