CVS Health Co. (NYSE:CVS) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. trimmed its position in CVS Health Co. (NYSE:CVS) by 25.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 600 shares of the pharmacy operator’s stock after selling 200 shares during the quarter. Hoey Investments Inc.’s holdings in CVS Health were worth $27,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. Norges Bank acquired a new stake in CVS Health during the 4th quarter valued at approximately $839,574,000. Davis Selected Advisers lifted its position in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Pzena Investment Management LLC grew its position in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at about $116,033,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVS. Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Stock Performance

NYSE CVS opened at $67.79 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock’s fifty day moving average is $62.42 and its two-hundred day moving average is $57.76. The firm has a market capitalization of $85.46 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $79.98.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid 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 yield of 3.92%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

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.