Jacobi Capital Management LLC Sells 5,035 Shares of CVS Health Co. (NYSE:CVS)

Jacobi Capital Management LLC reduced its position in CVS Health Co. (NYSE:CVS) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,938 shares of the pharmacy operator’s stock after selling 5,035 shares during the quarter. Jacobi Capital Management LLC’s holdings in CVS Health were worth $1,299,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVS. Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth approximately $32,000. Focus Financial Network Inc. boosted its position in CVS Health by 2.9% during the 3rd quarter. Focus Financial Network Inc. now owns 18,061 shares of the pharmacy operator’s stock worth $1,136,000 after buying an additional 512 shares during the period. Gladstone Institutional Advisory LLC boosted its position in CVS Health by 24.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 14,556 shares of the pharmacy operator’s stock worth $915,000 after buying an additional 2,832 shares during the period. Capital Advisors Inc. OK boosted its position in CVS Health by 1.7% during the 3rd quarter. Capital Advisors Inc. OK now owns 15,711 shares of the pharmacy operator’s stock worth $988,000 after buying an additional 261 shares during the period. Finally, Weatherly Asset Management L. P. boosted its position in CVS Health by 12.4% during the 3rd quarter. Weatherly Asset Management L. P. now owns 15,426 shares of the pharmacy operator’s stock worth $970,000 after buying an additional 1,699 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wolfe Research lifted their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group dropped their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Barclays boosted 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. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.83.

CVS Health Price Performance

CVS stock opened at $65.85 on Friday. The company has a market capitalization of $83.02 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. 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 52-week low of $43.56 and a 52-week high of $80.75. The business has a 50-day simple moving average of $54.33 and a two-hundred day simple moving average of $56.47.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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%. 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 announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.04%. CVS Health’s payout ratio is presently 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.