Verdence Capital Advisors LLC Has $350,000 Stake in CVS Health Co. (NYSE:CVS)

Verdence Capital Advisors LLC cut its position in CVS Health Co. (NYSE:CVS) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,801 shares of the pharmacy operator’s stock after selling 294 shares during the quarter. Verdence Capital Advisors LLC’s holdings in CVS Health were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its stake in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC increased its position in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares in the last quarter. Principal Financial Group Inc. lifted its stake in CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its position in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares in the last quarter. Finally, Hall Laurie J Trustee grew its stake in shares of CVS Health by 25,484.4% during the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after buying an additional 11,468 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVS shares. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler reduced their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Four research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Up 1.7 %

CVS stock opened at $66.34 on Friday. 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 fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock’s 50 day simple moving average is $56.42 and its 200 day simple moving average is $56.76. The company has a market cap of $83.64 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate 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, research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is 72.68%.

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.