Ieq Capital LLC Sells 8,223 Shares of CVS Health Co. (NYSE:CVS)

Ieq Capital LLC cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 23.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,121 shares of the pharmacy operator's stock after selling 8,223 shares during the period. Ieq Capital LLC's holdings in CVS Health were worth $1,217,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVS. Financial Perspectives Inc grew its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in CVS Health in the 4th quarter worth approximately $153,000. New York State Common Retirement Fund lifted its position in CVS Health by 7.4% in the fourth quarter. New York State Common Retirement Fund now owns 2,146,907 shares of the pharmacy operator's stock valued at $96,375,000 after purchasing an additional 148,040 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of CVS Health by 13.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 42,150 shares of the pharmacy operator's stock worth $1,892,000 after purchasing an additional 4,904 shares during the last quarter. Finally, Kestra Investment Management LLC increased its stake in shares of CVS Health by 25.5% in the fourth quarter. Kestra Investment Management LLC now owns 6,806 shares of the pharmacy operator's stock worth $306,000 after buying an additional 1,384 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 2.1 %

CVS Health stock traded up $1.37 during mid-day trading on Friday, reaching $65.85. The stock had a trading volume of 10,474,681 shares, compared to its average volume of 12,545,254. 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 company has a market capitalization of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a 50-day moving average price of $53.90 and a two-hundred day moving average price of $56.40.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health's payout ratio is currently 72.68%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Piper Sandler cut their price target on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. Finally, UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.83.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

CVS Health Company 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.