Ethic Inc. Sells 15,035 Shares of CVS Health Co. (NYSE:CVS)

Ethic Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 23.5% in the fourth quarter, HoldingsChannel reports. The fund owned 48,997 shares of the pharmacy operator’s stock after selling 15,035 shares during the period. Ethic Inc.’s holdings in CVS Health were worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Wealth Enhancement Advisory Services LLC raised its holdings in CVS Health by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator’s stock valued at $7,795,000 after buying an additional 2,256 shares during the last quarter. Graypoint LLC raised its stake in shares of CVS Health by 15.2% during the fourth quarter. Graypoint LLC now owns 5,187 shares of the pharmacy operator’s stock valued at $233,000 after acquiring an additional 683 shares during the last quarter. Czech National Bank boosted its holdings in shares of CVS Health by 6.4% during the fourth quarter. Czech National Bank now owns 272,854 shares of the pharmacy operator’s stock worth $12,248,000 after purchasing an additional 16,424 shares during the period. Brookstone Capital Management grew its stake in shares of CVS Health by 10.9% in the fourth quarter. Brookstone Capital Management now owns 69,420 shares of the pharmacy operator’s stock worth $3,116,000 after purchasing an additional 6,831 shares during the last quarter. Finally, Moody National Bank Trust Division increased its holdings in CVS Health by 3.8% during the 4th quarter. Moody National Bank Trust Division now owns 24,185 shares of the pharmacy operator’s stock valued at $1,086,000 after purchasing an additional 885 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $66.98 on Monday. The company has a market capitalization of $84.73 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The company’s 50-day moving average is $66.96 and its 200 day moving average is $59.06.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s payout ratio is currently 63.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVS shares. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Robert W. Baird raised their price target on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Barclays boosted their price objective on shares of CVS Health from $73.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Finally, Wolfe Research boosted their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $74.81.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the company’s 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 completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was 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 disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company’s stock.

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.