HUB Investment Partners LLC Sells 44,723 Shares of CVS Health Co. (NYSE:CVS)

HUB Investment Partners LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 75.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,240 shares of the pharmacy operator’s stock after selling 44,723 shares during the period. HUB Investment Partners LLC’s holdings in CVS Health were worth $639,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Davis Selected Advisers increased its position in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the last quarter. Pzena Investment Management LLC boosted its stake in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after buying an additional 6,475,271 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. Raymond James Financial Inc. bought a new stake in shares of CVS Health in the 4th quarter worth about $116,033,000. Finally, ARGA Investment Management LP boosted its stake in shares of CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after purchasing an additional 2,371,563 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 2.1 %

Shares of NYSE CVS 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 business has a fifty day moving average price of $60.60 and a 200 day moving average price of $57.34. The stock has a market capitalization of $84.75 billion, a P/E ratio of 18.37, a price-to-earnings-growth 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.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS 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. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is presently 72.68%.

Insider Activity

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought 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 in the company, valued at approximately $2,625,045.20. This trade 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.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, UBS Group cut their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Four research 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. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.39.

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.