SeaCrest Wealth Management LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,836 shares of the pharmacy operator’s stock after selling 900 shares during the quarter. CVS Health accounts for about 0.6% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 28th largest position. SeaCrest Wealth Management LLC’s holdings in CVS Health were worth $4,497,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CVS. BlackRock Inc. lifted its position in CVS Health by 3.2% during the third quarter. BlackRock Inc. now owns 100,284,278 shares of the pharmacy operator’s stock valued at $5,856,601,000 after purchasing an additional 3,127,908 shares during the last quarter. Boston Partners lifted its holdings in shares of CVS Health by 259.0% in the 4th quarter. Boston Partners now owns 3,681,480 shares of the pharmacy operator’s stock worth $251,445,000 after acquiring an additional 2,656,101 shares during the last quarter. Morgan Stanley lifted its holdings in shares of CVS Health by 7.1% in the 3rd quarter. Morgan Stanley now owns 24,687,270 shares of the pharmacy operator’s stock worth $1,441,737,000 after acquiring an additional 1,627,516 shares during the last quarter. Value Partners Investments Inc. lifted its holdings in shares of CVS Health by 535.7% in the 4th quarter. Value Partners Investments Inc. now owns 762,822 shares of the pharmacy operator’s stock worth $52,131,000 after acquiring an additional 642,822 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of CVS Health by 30.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,681,754 shares of the pharmacy operator’s stock worth $156,614,000 after acquiring an additional 633,678 shares during the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.
NYSE CVS traded down $0.24 during trading on Tuesday, reaching $70.24. 51,572 shares of the company’s stock traded hands, compared to its average volume of 7,151,497. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. The firm has a market cap of $92.11 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.72 and a beta of 0.82. The company’s 50 day simple moving average is $73.45 and its two-hundred day simple moving average is $66.22. CVS Health Co. has a 12-month low of $52.04 and a 12-month high of $77.23.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 1st. Shareholders of record on Friday, January 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, January 21st. CVS Health’s dividend payout ratio (DPR) is 28.25%.
In other news, CEO Larry J. Merlo sold 62,893 shares of CVS Health stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $77.00, for a total value of $4,842,761.00. Following the transaction, the chief executive officer now owns 586,222 shares of the company’s stock, valued at approximately $45,139,094. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa Bisaccia sold 25,177 shares of CVS Health stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $77.00, for a total transaction of $1,938,629.00. Following the completion of the transaction, the executive vice president now directly owns 71,765 shares in the company, valued at approximately $5,525,905. The disclosure for this sale can be found here. Insiders have sold a total of 113,906 shares of company stock worth $8,719,090 in the last three months. Insiders own 0.46% of the company’s stock.
CVS has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of CVS Health in a report on Monday, November 9th. SVB Leerink raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “market perform” rating in a report on Monday, December 14th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a report on Monday, November 9th. Piper Sandler lifted their price objective on shares of CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, November 11th. Finally, Jefferies Financial Group upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, January 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. CVS Health has a consensus rating of “Buy” and an average target price of $82.08.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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