Larson Financial Group LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Larson Financial Group LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,985 shares of the pharmacy operator’s stock after selling 557 shares during the period. Larson Financial Group LLC’s holdings in CVS Health were worth $134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the third quarter worth about $25,000. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% in 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 period. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the fourth quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter worth about $31,000. Finally, Financial Perspectives Inc raised its stake in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated 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 transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was 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 corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVS. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Truist Financial lifted their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Finally, Barclays lifted their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Price Performance

CVS opened at $64.98 on Wednesday. The business has a fifty day moving average of $57.24 and a 200 day moving average of $56.83. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. 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 stock has a market cap of $81.92 billion, a P/E ratio of 17.75, a PEG ratio of 0.98 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 yield of 4.09%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

CVS Health Company 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.