Corient Private Wealth LLC Sells 21,913 Shares of CVS Health Co. (NYSE:CVS)

Corient Private Wealth LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 452,284 shares of the pharmacy operator’s stock after selling 21,913 shares during the period. Corient Private Wealth LLC’s holdings in CVS Health were worth $20,303,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC boosted its stake in shares of CVS Health by 63.3% during the 4th quarter. Frank Rimerman Advisors LLC now owns 11,787 shares of the pharmacy operator’s stock worth $529,000 after purchasing an additional 4,571 shares during the period. Intact Investment Management Inc. boosted its stake in shares of CVS Health by 240.8% during the 4th quarter. Intact Investment Management Inc. now owns 274,000 shares of the pharmacy operator’s stock worth $12,300,000 after purchasing an additional 193,600 shares during the period. Aviso Financial Inc. boosted its position in CVS Health by 52.6% in the 4th quarter. Aviso Financial Inc. now owns 14,104 shares of the pharmacy operator’s stock valued at $633,000 after buying an additional 4,862 shares during the period. LBP AM SA bought a new position in CVS Health in the 4th quarter worth about $6,541,000. Finally, Madison Investment Advisors LLC bought a new position in CVS Health in the 4th quarter worth about $6,233,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group dropped 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. Wolfe Research upped their target price 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. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Finally, Evercore ISI increased their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.83.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value 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 approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a 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. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.3 %

NYSE:CVS opened at $67.49 on Wednesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a 50 day moving average of $59.32 and a 200 day moving average of $57.12. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $85.09 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly 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 net margin of 1.24% and a return on equity of 9.11%. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.94%. CVS Health’s dividend payout ratio is currently 72.68%.

CVS Health 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.