CVS Health Co. (NYSE:CVS) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its holdings in CVS Health Co. (NYSE:CVS) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,305 shares of the pharmacy operator’s stock after selling 37,995 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in CVS Health were worth $7,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Russell Investments Group Ltd. boosted its holdings in CVS Health by 62.3% in the fourth quarter. Russell Investments Group Ltd. now owns 3,173,780 shares of the pharmacy operator’s stock valued at $142,464,000 after purchasing an additional 1,217,730 shares during the last quarter. Rahlfs Capital LLC acquired a new stake in CVS Health during the fourth quarter worth about $266,000. Envestnet Asset Management Inc. raised its position in CVS Health by 1.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,529,714 shares of the pharmacy operator’s stock valued at $68,669,000 after acquiring an additional 15,561 shares in the last quarter. Aviva PLC lifted its holdings in CVS Health by 154.9% in the fourth quarter. Aviva PLC now owns 681,209 shares of the pharmacy operator’s stock valued at $30,579,000 after acquiring an additional 414,008 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $1,111,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was bought 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 in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

CVS Health Trading Down 5.9 %

Shares of CVS Health stock opened at $63.54 on Monday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $74.85. 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 stock has a market cap of $80.11 billion, a P/E ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.57. The stock’s 50 day simple moving average is $63.47 and its 200-day simple moving average is $58.01.

CVS Health (NYSE:CVS) last issued its 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%. Analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial increased their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. UBS Group lowered their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.39.

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.