CVS Health Co. (NYSE:CVS) Stock Position Reduced by ProVise Management Group LLC

ProVise Management Group LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 77.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,674 shares of the pharmacy operator’s stock after selling 60,997 shares during the period. ProVise Management Group LLC’s holdings in CVS Health were worth $793,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CVS. Ridgewood Investments LLC lifted 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 buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Financial Perspectives Inc raised its position in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Wolfe Research raised their target price on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Four 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Performance

CVS opened at $67.84 on Thursday. The firm has a market cap of $85.53 billion, a PE ratio of 18.54, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $59.76 and a 200-day simple moving average of $57.20. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

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.