PARUS FINANCE UK Ltd Sells 2,630 Shares of CVS Health Co. (NYSE:CVS)

PARUS FINANCE UK Ltd decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,530 shares of the pharmacy operator’s stock after selling 2,630 shares during the period. CVS Health accounts for approximately 1.5% of PARUS FINANCE UK Ltd’s holdings, making the stock its 18th biggest holding. PARUS FINANCE UK Ltd’s holdings in CVS Health were worth $4,872,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in CVS Health in the third quarter valued at about $31,000. Ridgewood Investments LLC grew 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 acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth $29,000. Finally, Financial Perspectives Inc boosted its holdings in CVS Health by 137.5% during 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 during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.7 %

Shares of CVS stock opened at $67.13 on Friday. The stock has a 50 day simple moving average of $62.12 and a 200 day simple moving average of $57.67. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $79.98. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market cap of $84.64 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

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 analysts’ consensus estimates 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, research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. CVS Health’s dividend payout ratio is 72.68%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVS. JPMorgan Chase & Co. lifted their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. UBS Group decreased their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the stock a “buy” 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

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.