HUB Investment Partners LLC Cuts Position in CVS Health Co. (NYSE:CVS)

HUB Investment Partners LLC lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 75.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,240 shares of the pharmacy operator’s stock after selling 44,723 shares during the quarter. HUB Investment Partners LLC’s holdings in CVS Health were worth $639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Symmetry Partners LLC acquired a new stake in CVS Health in the 4th quarter worth about $291,000. Blueshift Asset Management LLC increased its position in CVS Health by 465.9% during the fourth quarter. Blueshift Asset Management LLC now owns 34,170 shares of the pharmacy operator’s stock worth $1,534,000 after purchasing an additional 28,132 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in CVS Health by 0.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 523,130 shares of the pharmacy operator’s stock worth $23,483,000 after purchasing an additional 3,023 shares during the period. Vinva Investment Management Ltd boosted its holdings in CVS Health by 4.2% in the 4th quarter. Vinva Investment Management Ltd now owns 58,789 shares of the pharmacy operator’s stock valued at $2,583,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of CVS Health in the 4th quarter valued at approximately $89,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS stock opened at $67.22 on Friday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm has a market capitalization of $84.75 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.98 and a beta of 0.54. 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 business’s 50-day moving average is $60.60 and its two-hundred day moving average is $57.34.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This 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 owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent analyst reports. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Truist Financial lifted their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $70.39.

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.