CVS Health Co. (NYSE:CVS) Shares Sold by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. reduced its holdings in CVS Health Co. (NYSE:CVS) by 25.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,247 shares of the pharmacy operator’s stock after selling 757 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in CVS Health were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the 3rd quarter valued at approximately $31,000. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC bought a new position in CVS Health during the 3rd quarter valued at $40,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the 4th quarter worth $29,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of CVS Health 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 sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CVS has been the subject of several research reports. Wells Fargo & Company raised their price objective on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial raised their target price on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Evercore ISI raised their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Finally, Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Four 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Price Performance

NYSE CVS opened at $67.22 on Friday. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock’s 50-day moving average is $60.60 and its two-hundred day moving average is $57.34. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $84.75 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

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 return on equity of 9.11% and a net margin of 1.24%. On average, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s payout ratio is presently 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.