CVS Health Co. (NYSE:CVS) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp decreased its holdings in CVS Health Co. (NYSE:CVS) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,183 shares of the pharmacy operator’s stock after selling 13,466 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in CVS Health were worth $3,016,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVS. Amundi raised its holdings in shares of CVS Health by 19.8% during the fourth quarter. Amundi now owns 7,059,915 shares of the pharmacy operator’s stock valued at $324,246,000 after acquiring an additional 1,165,992 shares during the last quarter. Intellectus Partners LLC lifted its position in CVS Health by 14.4% during the fourth quarter. Intellectus Partners LLC now owns 7,721 shares of the pharmacy operator’s stock worth $347,000 after buying an additional 970 shares in the last quarter. AMF Tjanstepension AB raised its position in CVS Health by 542.2% in the fourth quarter. AMF Tjanstepension AB now owns 396,512 shares of the pharmacy operator’s stock valued at $17,799,000 after purchasing an additional 334,768 shares during the period. Davis Selected Advisers raised its position in CVS Health by 2,998.1% in the fourth 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 period. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in CVS Health in the fourth quarter valued at $516,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was acquired 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 of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $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. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Up 1.7 %

Shares of NYSE CVS opened at $66.34 on Friday. The company has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, 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. The business has a 50-day moving average of $56.42 and a two-hundred day moving average of $56.75. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is currently 72.68%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Wolfe Research lifted their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler dropped their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, UBS Group dropped their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Four equities research 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 company. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $69.83.

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.