CVS Health Co. (NYSE:CVS) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,903 shares of the pharmacy operator’s stock after selling 2,245 shares during the period. Anchor Investment Management LLC’s holdings in CVS Health were worth $534,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in shares of CVS Health in the 3rd quarter worth about $409,000. Westside Investment Management Inc. raised its stake in CVS Health by 4.6% during the third quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator’s stock worth $4,041,000 after acquiring an additional 2,856 shares during the period. World Investment Advisors LLC lifted its holdings in CVS Health by 280.7% in the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock worth $1,732,000 after acquiring an additional 20,308 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of CVS Health during the third quarter valued at approximately $2,071,000. Finally, Tidal Investments LLC raised its position in shares of CVS Health by 52.2% during the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock worth $7,043,000 after purchasing an additional 38,408 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVS. JPMorgan Chase & Co. increased their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Mizuho boosted their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Finally, Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.83.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $68.80 on Wednesday. The stock’s fifty day simple moving average is $65.67 and its 200 day simple moving average is $58.63. The stock has a market capitalization of $86.74 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.98 and a beta of 0.57. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. As a group, sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.87%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s payout ratio is 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.