CVS Health Co. (NYSE:CVS) Stock Position Decreased by 44 Wealth Management LLC

44 Wealth Management LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,343 shares of the pharmacy operator’s stock after selling 9,645 shares during the quarter. 44 Wealth Management LLC’s holdings in CVS Health were worth $1,542,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVS. AMF Tjanstepension AB boosted its holdings in shares of CVS Health by 124.1% in the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock worth $3,882,000 after buying an additional 34,198 shares during the period. McAdam LLC acquired a new position in shares of CVS Health in the third quarter worth about $274,000. International Assets Investment Management LLC boosted its holdings in shares of CVS Health by 8,947.4% in the third quarter. International Assets Investment Management LLC now owns 1,145,849 shares of the pharmacy operator’s stock worth $72,051,000 after buying an additional 1,133,184 shares during the period. DT Investment Partners LLC boosted its position in shares of CVS Health by 7.8% in the third quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after buying an additional 202 shares during the period. Finally, Tectonic Advisors LLC boosted its position in shares of CVS Health by 18.2% in the third quarter. Tectonic Advisors LLC now owns 12,878 shares of the pharmacy operator’s stock worth $810,000 after buying an additional 1,985 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVS shares. Wells Fargo & Company raised their target price on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Four research 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 company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $70.00.

CVS Health Stock Performance

Shares of NYSE CVS opened at $63.42 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $52.39 and its two-hundred day moving average is $56.23. The company has a market cap of $79.95 billion, a P/E ratio of 17.33, a P/E/G 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.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate 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, equities analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio 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.