Smith Moore & CO. Sells 4,219 Shares of CVS Health Co. (NYSE:CVS)

Smith Moore & CO. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 25.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,346 shares of the pharmacy operator’s stock after selling 4,219 shares during the period. Smith Moore & CO.’s holdings in CVS Health were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC lifted its holdings in shares of CVS Health by 255.7% during the fourth 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 bought a new position in CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health during the 4th quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the 3rd quarter valued at $31,000. Finally, Financial Perspectives Inc grew its position in CVS Health by 137.5% in 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 last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $63.54 on Friday. The business has a fifty day moving average of $63.47 and a 200-day moving average of $58.01. The firm has a market cap of $80.11 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $74.85.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVS shares. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Wolfe Research boosted their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Finally, Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.