Investors Research Corp Sells 1,595 Shares of CVS Health Co. (NYSE:CVS)

Investors Research Corp lowered its position in shares of CVS Health Co. (NYSE:CVS) by 7.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,112 shares of the pharmacy operator’s stock after selling 1,595 shares during the quarter. Investors Research Corp’s holdings in CVS Health were worth $903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC increased its stake in shares of 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 purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Financial Perspectives Inc increased its stake 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 last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’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 owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. UBS Group reduced their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Finally, Truist Financial raised their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Performance

CVS Health stock opened at $66.34 on Monday. 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 capitalization of $83.64 billion, a PE ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. The firm has a fifty day simple moving average of $56.42 and a two-hundred day simple moving average of $56.73. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings results 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 net margin of 1.24% and a return on equity of 9.11%. Research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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