Pacific Global Investment Management Co. Cuts Position in CVS Health Co. (NYSE:CVS)

Pacific Global Investment Management Co. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 30.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,993 shares of the pharmacy operator’s stock after selling 5,344 shares during the period. Pacific Global Investment Management Co.’s holdings in CVS Health were worth $538,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. increased its stake in CVS Health by 2.9% during the 3rd quarter. Focus Financial Network Inc. now owns 18,061 shares of the pharmacy operator’s stock valued at $1,136,000 after purchasing an additional 512 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its stake in CVS Health by 24.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 14,556 shares of the pharmacy operator’s stock valued at $915,000 after purchasing an additional 2,832 shares during the last quarter. Capital Advisors Inc. OK increased its holdings in shares of CVS Health by 1.7% in the 3rd quarter. Capital Advisors Inc. OK now owns 15,711 shares of the pharmacy operator’s stock worth $988,000 after purchasing an additional 261 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of CVS Health by 5.2% during the third quarter. Chicago Partners Investment Group LLC now owns 13,620 shares of the pharmacy operator’s stock valued at $856,000 after purchasing an additional 676 shares in the last quarter. Finally, New Covenant Trust Company N.A. boosted its position in shares of CVS Health by 15.4% during the third quarter. New Covenant Trust Company N.A. now owns 4,170 shares of the pharmacy operator’s stock valued at $256,000 after buying an additional 558 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated 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 transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by company insiders.

CVS Health Trading Up 2.1 %

CVS stock opened at $65.85 on Monday. The company has a market capitalization of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. 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 Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The business has a 50 day simple moving average of $54.33 and a two-hundred day simple moving average of $56.47.

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 net margin of 1.24% and a return on equity of 9.11%. Research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Royal Bank of Canada reduced their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

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.