Hayek Kallen Investment Management Sells 12,484 Shares of CVS Health Co. (NYSE:CVS)

Hayek Kallen Investment Management cut its holdings in CVS Health Co. (NYSE:CVS) by 64.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,822 shares of the pharmacy operator’s stock after selling 12,484 shares during the period. Hayek Kallen Investment Management’s holdings in CVS Health were worth $306,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC increased its stake in CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock worth $56,000 after acquiring an additional 189 shares during the last quarter. EagleClaw Capital Managment LLC boosted its holdings in shares of CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock worth $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC increased its position in shares of CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after purchasing an additional 204 shares during the last quarter. Angeles Investment Advisors LLC lifted its position in CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock worth $256,000 after buying an additional 204 shares during the last quarter. Finally, Rogco LP boosted its stake in CVS Health by 3.2% during the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after buying an additional 210 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was acquired 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 trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by insiders.

CVS Health Price Performance

CVS opened at $65.86 on Friday. The firm has a market capitalization of $83.04 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. 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’s 50-day moving average is $66.49 and its two-hundred day moving average is $58.87. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $71.45.

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, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Wolfe Research raised their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Truist Financial upped their target price on CVS Health from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, April 11th. UBS Group decreased their price target 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. Finally, Mizuho upped their price objective on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $71.83.

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.