Brown Brothers Harriman & Co. Has $112,000 Position in CVS Health Co. (NYSE:CVS)

Brown Brothers Harriman & Co. lessened its position in CVS Health Co. (NYSE:CVS) by 55.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,503 shares of the pharmacy operator’s stock after selling 3,088 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in CVS Health were worth $112,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Arete Wealth Advisors LLC bought a new stake in CVS Health during the 3rd quarter worth about $1,369,000. Edgestream Partners L.P. increased its position in shares of CVS Health by 7.4% during the 3rd quarter. Edgestream Partners L.P. now owns 20,734 shares of the pharmacy operator’s stock worth $1,304,000 after purchasing an additional 1,437 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of CVS Health in the 3rd quarter valued at approximately $6,109,000. Kestra Investment Management LLC bought a new position in shares of CVS Health in the third quarter valued at $341,000. Finally, Atom Investors LP bought a new stake in CVS Health during the third quarter worth $1,273,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Barclays lifted their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at approximately $2,625,045.20. The trade was 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 0.2 %

NYSE:CVS opened at $67.88 on Wednesday. The stock’s fifty day moving average price is $62.72 and its two-hundred day moving average price is $57.83. The company has a market cap of $85.59 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $75.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last released its 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 return on equity of 9.11% and a net margin of 1.24%. As a group, analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.92%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.