HM Payson & Co. Sells 12,119 Shares of CVS Health Co. (NYSE:CVS)

HM Payson & Co. reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,271 shares of the pharmacy operator's stock after selling 12,119 shares during the period. HM Payson & Co.'s holdings in CVS Health were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its position in CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock valued at $25,781,000 after purchasing an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator's stock valued at $2,951,000 after purchasing an additional 10,465 shares during the period. Principal Financial Group Inc. boosted its position in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock worth $90,200,000 after buying an additional 66,244 shares during the period. Sompo Asset Management Co. Ltd. grew its holdings in CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator's stock worth $8,459,000 after buying an additional 10,453 shares in the last quarter. Finally, Hall Laurie J Trustee increased its position in CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator's stock valued at $517,000 after acquiring an additional 11,468 shares during the period. 80.66% of the stock is owned by institutional investors.

Remove Ads

CVS Health Trading Up 1.7 %

CVS Health stock traded up $1.09 during midday trading on Friday, reaching $66.34. The stock had a trading volume of 10,082,148 shares, compared to its average volume of 11,965,158. The firm's fifty day simple moving average is $56.42 and its two-hundred day simple moving average is $56.73. 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 Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The firm has a market cap of $83.64 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last issued 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 return on equity of 9.11% and a net margin of 1.24%. Equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health's payout ratio is presently 72.68%.

Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Argus set a $77.00 price target on CVS Health in a research note on Tuesday, February 18th. TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Barclays upped their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Wells Fargo & Company raised their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.83.

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.