Mark Sheptoff Financial Planning LLC Sells 2,966 Shares of CVS Health Co. (NYSE:CVS)

Mark Sheptoff Financial Planning LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 59.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,983 shares of the pharmacy operator’s stock after selling 2,966 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in CVS Health were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. bought a new stake in CVS Health during the fourth quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the 3rd quarter valued at about $31,000. Finally, Financial Perspectives Inc boosted its stake in CVS Health by 137.5% in 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 in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler lifted their price target on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. UBS Group lowered their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Truist Financial lifted their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Evercore ISI upped their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Stock Down 1.5 %

CVS opened at $66.54 on Wednesday. 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 company has a market cap of $83.89 billion, a PE ratio of 18.18, a P/E/G ratio of 0.98 and a beta of 0.54. The business has a 50 day moving average price of $61.22 and a two-hundred day moving average price of $57.46. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.00%. CVS Health’s payout ratio is 72.68%.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price 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 in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

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.