Sigma Planning Corp Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Sigma Planning Corp cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 61.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,365 shares of the pharmacy operator’s stock after selling 35,612 shares during the period. Sigma Planning Corp’s holdings in CVS Health were worth $1,766,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Live Oak Investment Partners purchased a new position in CVS Health in the 4th quarter valued at $25,000. Atticus Wealth Management LLC grew its position in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the period. PCA Investment Advisory Services Inc. acquired a new stake in CVS Health in the second quarter valued at $37,000. Finally, ZRC Wealth Management LLC lifted its holdings in CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 400 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink assumed coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price for the company. Barclays assumed coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Finally, Piper Sandler lifted their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Trading Up 0.1 %

Shares of CVS stock opened at $69.80 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $87.98 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.92 and a beta of 0.52. The firm has a 50-day moving average price of $75.29 and a 200 day moving average price of $73.77. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 EPS. Research analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

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.