CVS Health Co. (NYSE:CVS) Shares Sold by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc trimmed its holdings in CVS Health Co. (NYSE:CVS) by 73.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,996 shares of the pharmacy operator’s stock after selling 81,364 shares during the quarter. Van Cleef Asset Management Inc’s holdings in CVS Health were worth $2,290,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVS. SOA Wealth Advisors LLC. increased its stake in shares of CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after acquiring an additional 133 shares during the period. Apella Capital LLC boosted its stake in CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after buying an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC raised its position in CVS Health by 4.1% in the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after acquiring an additional 141 shares in the last quarter. WealthShield Partners LLC lifted its holdings in CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after acquiring an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of CVS Health by 9.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CVS shares. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Piper Sandler upped their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Barclays assumed coverage on shares of CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Finally, SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Stock Down 0.7 %

Shares of CVS traded down $0.45 during mid-day trading on Thursday, hitting $67.32. 8,915,583 shares of the company’s stock were exchanged, compared to its average volume of 10,708,336. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The firm has a fifty day moving average of $74.80 and a two-hundred day moving average of $73.72. The stock has a market cap of $84.86 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same period last year, the business earned $1.99 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.95%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insiders Place Their Bets

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

About CVS Health

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.