Tocqueville Asset Management L.P. Has $265,000 Holdings in CVS Health Co. (NYSE:CVS)

Tocqueville Asset Management L.P. lessened its stake in CVS Health Co. (NYSE:CVS) by 52.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,904 shares of the pharmacy operator’s stock after selling 6,591 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in CVS Health were worth $265,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Cozad Asset Management Inc. raised its stake in CVS Health by 3.7% in the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator’s stock valued at $293,000 after acquiring an additional 233 shares during the period. Cibc World Markets Corp raised its stake in CVS Health by 16.4% in the 4th quarter. Cibc World Markets Corp now owns 198,542 shares of the pharmacy operator’s stock valued at $8,913,000 after acquiring an additional 27,985 shares during the period. SouthState Corp raised its stake in CVS Health by 849.6% in the 4th quarter. SouthState Corp now owns 26,989 shares of the pharmacy operator’s stock valued at $1,212,000 after acquiring an additional 24,147 shares during the period. Altus Wealth Group LLC raised its stake in CVS Health by 5.5% in the 4th quarter. Altus Wealth Group LLC now owns 5,501 shares of the pharmacy operator’s stock valued at $247,000 after acquiring an additional 287 shares during the period. Finally, Frank Rimerman Advisors LLC raised its stake in CVS Health by 63.3% in the 4th quarter. Frank Rimerman Advisors LLC now owns 11,787 shares of the pharmacy operator’s stock valued at $529,000 after acquiring an additional 4,571 shares during the period. Institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction 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 trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $68.71 on Friday. The stock’s 50-day simple moving average is $60.22 and its 200 day simple moving average is $57.28. The firm has a market capitalization of $86.63 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.87%. CVS Health’s payout ratio is 72.68%.

Analysts Set New Price Targets

Several research firms have weighed in on CVS. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, December 3rd. Finally, Wolfe Research increased their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

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.