Sequoia Financial Advisors LLC Sells 6,551 Shares of CVS Health Co. (NYSE:CVS)

Sequoia Financial Advisors LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.7% in the fourth quarter, Holdings Channel reports. The firm owned 41,157 shares of the pharmacy operator’s stock after selling 6,551 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in CVS Health were worth $1,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC increased its holdings in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth approximately $31,000. Finally, Financial Perspectives Inc increased its holdings in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. UBS Group lowered their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Truist Financial raised their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction 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 $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS opened at $65.63 on Friday. The company has a fifty day moving average price of $58.47 and a two-hundred day moving average price of $57.00. The firm has a market capitalization of $82.75 billion, a PE ratio of 17.93, a P/E/G ratio of 0.98 and a beta of 0.53. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.05%. CVS Health’s dividend payout ratio is 72.68%.

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.