Orion Portfolio Solutions LLC Has $2.42 Million Position in CVS Health Co. (NYSE:CVS)

Orion Portfolio Solutions LLC lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 19.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,953 shares of the pharmacy operator's stock after selling 12,725 shares during the quarter. Orion Portfolio Solutions LLC's holdings in CVS Health were worth $2,422,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of CVS Health by 3.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,494,378 shares of the pharmacy operator's stock worth $67,083,000 after purchasing an additional 51,652 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in CVS Health in the fourth quarter worth approximately $3,351,000. Norges Bank bought a new position in shares of CVS Health in the fourth quarter valued at $839,574,000. Caisse Des Depots ET Consignations bought a new stake in shares of CVS Health during the 4th quarter worth $2,631,000. Finally, NEOS Investment Management LLC grew its holdings in shares of CVS Health by 31.6% in the 4th quarter. NEOS Investment Management LLC now owns 77,773 shares of the pharmacy operator's stock worth $3,491,000 after acquiring an additional 18,667 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 5.9 %

NYSE:CVS traded down $3.97 during mid-day trading on Friday, reaching $63.54. The stock had a trading volume of 13,291,234 shares, compared to its average volume of 11,586,970. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market cap of $80.11 billion, a P/E ratio of 17.36, a PEG ratio of 0.98 and a beta of 0.57. The business's 50 day moving average is $63.47 and its 200 day moving average is $58.01. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $74.85.

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CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating 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 predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial upped their target price on CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, February 13th. UBS Group decreased their target price 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. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.39.

Insider Buying and Selling

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business's 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 directly owns 8,394 shares of the company's stock, valued at $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company's stock.

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.