Retirement Planning Co of New England Inc. Sells 2,313 Shares of CVS Health Co. (NYSE:CVS)

Retirement Planning Co of New England Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 7.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,528 shares of the pharmacy operator’s stock after selling 2,313 shares during the period. Retirement Planning Co of New England Inc.’s holdings in CVS Health were worth $1,236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mystic Asset Management Inc. grew its position in shares of CVS Health by 86.5% in the 4th quarter. Mystic Asset Management Inc. now owns 31,945 shares of the pharmacy operator’s stock valued at $1,434,000 after buying an additional 14,820 shares during the last quarter. RD Lewis Holdings Inc. bought a new stake in shares of CVS Health during the 4th quarter valued at about $244,000. Cozad Asset Management Inc. boosted its position in shares of CVS Health by 3.7% during the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator’s stock valued at $293,000 after purchasing an additional 233 shares in the last quarter. Cibc World Markets Corp boosted its position in shares of CVS Health by 16.4% during the 4th quarter. Cibc World Markets Corp now owns 198,542 shares of the pharmacy operator’s stock valued at $8,913,000 after purchasing an additional 27,985 shares in the last quarter. Finally, SouthState Corp boosted its position in shares of CVS Health by 849.6% during the 4th quarter. SouthState Corp now owns 26,989 shares of the pharmacy operator’s stock valued at $1,212,000 after purchasing an additional 24,147 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on 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 completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on 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 directly owns 8,394 shares of the company’s stock, 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 company insiders.

Analyst Ratings Changes

Several brokerages recently commented on CVS. Wolfe Research upped 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. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Barclays upped their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Performance

Shares of CVS Health stock opened at $66.65 on Tuesday. 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 company has a market cap of $84.03 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a 50 day moving average price of $58.89 and a 200-day moving average price of $57.05. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities 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 declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 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.