Peapack Gladstone Financial Corp Sells 37,995 Shares of CVS Health Co. (NYSE:CVS)

Peapack Gladstone Financial Corp lowered its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,305 shares of the pharmacy operator's stock after selling 37,995 shares during the period. Peapack Gladstone Financial Corp's holdings in CVS Health were worth $7,646,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CVS. EagleClaw Capital Managment LLC grew its position in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock valued at $275,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after acquiring an additional 204 shares during the last quarter. Angeles Investment Advisors LLC boosted its stake in shares of CVS Health by 3.7% during the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after acquiring an additional 204 shares during the last quarter. Rogco LP increased its position in CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after purchasing an additional 210 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its stake in CVS Health by 3.7% in the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator's stock valued at $293,000 after purchasing an additional 233 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock traded up $0.59 on Friday, reaching $69.56. The company's stock had a trading volume of 12,536,878 shares, compared to its average volume of 11,750,465. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $71.66. The business's fifty day moving average price is $65.10 and its 200 day moving average price is $58.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market cap of $87.70 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) 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%. Equities analysts expect 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 will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Analyst Upgrades and Downgrades

Several research firms have commented on CVS. Wells Fargo & Company lifted their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. StockNews.com raised shares of CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Piper Sandler upped their price objective on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and an average price target of $71.28.

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 stock was 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 owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, 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 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.