Oppenheimer Asset Management Inc. Sells 12,452 Shares of CVS Health Co. (NYSE:CVS)

Oppenheimer Asset Management Inc. reduced its stake in CVS Health Co. (NYSE:CVS) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,871 shares of the pharmacy operator’s stock after selling 12,452 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CVS Health were worth $19,566,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares during the period. TD Private Client Wealth LLC lifted its position in shares of CVS Health by 28.7% in 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 during the period. Principal Financial Group Inc. lifted its position in shares of 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 worth $90,200,000 after purchasing an additional 66,244 shares during the period. Sompo Asset Management Co. Ltd. lifted its position in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the period. Finally, Hall Laurie J Trustee lifted its position in shares of CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after purchasing an additional 11,468 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.2 %

CVS stock opened at $63.78 on Thursday. The stock has a market capitalization of $80.42 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.98 and a beta of 0.61. The firm has a 50-day simple moving average of $53.48 and a 200-day simple moving average of $56.34. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.17%. CVS Health’s payout ratio is presently 72.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVS shares. Barclays upped their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group lowered their target price 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. Truist Financial raised their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Four equities 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Buying and Selling

In other news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly 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 SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

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.