CVS Health Co. (NYSE:CVS) Shares Sold by Ceeto Capital Group LLC

Ceeto Capital Group LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 43.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,676 shares of the pharmacy operator’s stock after selling 5,083 shares during the quarter. Ceeto Capital Group LLC’s holdings in CVS Health were worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CVS. Inlight Wealth Management LLC acquired a new stake in CVS Health in the 4th quarter worth $2,165,000. Monetary Management Group Inc. increased its holdings in CVS Health by 3.7% during the 4th quarter. Monetary Management Group Inc. now owns 13,250 shares of the pharmacy operator’s stock valued at $595,000 after purchasing an additional 475 shares in the last quarter. Quinn Opportunity Partners LLC raised its holdings in CVS Health by 22.9% during the 4th quarter. Quinn Opportunity Partners LLC now owns 484,850 shares of the pharmacy operator’s stock worth $21,765,000 after purchasing an additional 90,400 shares during the last quarter. Heritage Trust Co bought a new stake in shares of CVS Health during the fourth quarter worth approximately $1,481,000. Finally, F M Investments LLC lifted its stake in shares of CVS Health by 12.0% in the 4th quarter. F M Investments LLC now owns 28,542 shares of the pharmacy operator’s stock valued at $1,281,000 after purchasing an additional 3,062 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS opened at $69.56 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $87.70 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 0.98 and a beta of 0.57. The business’s fifty day simple moving average is $65.10 and its 200-day simple moving average is $58.51. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $71.66.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate 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 will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. 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. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Wolfe Research raised their price target 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 investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $71.28.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on 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 transaction, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

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.