Johnson Investment Counsel Inc. Sells 8,307 Shares of CVS Health Co. (NYSE:CVS)

Johnson Investment Counsel Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,617 shares of the pharmacy operator's stock after selling 8,307 shares during the period. Johnson Investment Counsel Inc.'s holdings in CVS Health were worth $1,105,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Widmann Financial Services Inc. boosted its stake in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock worth $724,000 after acquiring an additional 200 shares in the last quarter. EagleClaw Capital Managment LLC boosted its stake in CVS Health by 3.4% during the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after acquiring an additional 200 shares in the last quarter. Manchester Capital Management LLC boosted its stake in CVS Health by 4.8% during 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 in the last quarter. Rogco LP boosted its stake in CVS Health by 3.2% during the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after acquiring an additional 210 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in CVS Health by 3.8% during the fourth quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator's stock worth $304,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

CVS has been the topic of several research reports. Truist Financial boosted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Evercore ISI lifted their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. 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 report on Thursday, February 13th. Finally, Barclays lifted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Four equities research 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. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.83.

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Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price 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 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. 0.24% of the stock is currently owned by company insiders.

CVS Health Stock Performance

Shares of NYSE CVS opened at $64.98 on Wednesday. The firm has a 50 day moving average of $57.24 and a 200 day moving average of $56.83. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $81.92 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

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

CVS Health Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.09%. CVS Health's dividend payout ratio (DPR) is 72.68%.

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.

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