CVS Health Corp (CVS) Shares Sold by Barnett & Company Inc.
Barnett & Company Inc. cut its holdings in CVS Health Corp (NYSE:CVS) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,794 shares of the pharmacy operator’s stock after selling 2,695 shares during the period. CVS Health makes up approximately 2.9% of Barnett & Company Inc.’s investment portfolio, making the stock its 8th largest position. Barnett & Company Inc.’s holdings in CVS Health were worth $5,032,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CVS. Bell Rock Capital LLC grew its stake in CVS Health by 764.0% during the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 382 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new stake in CVS Health during the fourth quarter worth about $30,000. Acima Private Wealth LLC acquired a new stake in CVS Health during the fourth quarter worth about $33,000. Cornerstone Advisors Inc. grew its stake in CVS Health by 71.6% during the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after buying an additional 212 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in CVS Health during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 81.55% of the company’s stock.
Shares of NYSE CVS opened at $52.43 on Tuesday. The company has a market capitalization of $68.34 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 1.03 and a beta of 0.94. CVS Health Corp has a 1 year low of $51.77 and a 1 year high of $82.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.03 and a quick ratio of 0.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
In related news, COO Jonathan C. Roberts sold 77,639 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $64.54, for a total value of $5,010,821.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C David Brown II acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average price of $53.18 per share, with a total value of $531,800.00. Following the acquisition, the director now owns 16,222 shares in the company, valued at $862,685.96. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 23,600 shares of company stock valued at $1,270,896 and sold 245,671 shares valued at $15,839,966. 0.53% of the stock is owned by company insiders.
CVS has been the topic of a number of research analyst reports. Bank of America restated a “buy” rating and issued a $92.00 price target on shares of CVS Health in a research note on Thursday, January 3rd. Cantor Fitzgerald restated a “buy” rating and issued a $96.00 price target on shares of CVS Health in a research note on Thursday, January 3rd. UBS Group initiated coverage on shares of CVS Health in a research note on Thursday, January 17th. They issued a “buy” rating and a $75.00 price target on the stock. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. Finally, Wells Fargo & Co downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $104.00 to $68.00 in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus price target of $79.15.
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CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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