Kayne Anderson Rudnick Investment Management LLC Trims Stock Position in CVS Health Co. (NYSE:CVS)

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 12.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,777 shares of the pharmacy operator's stock after selling 4,534 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in CVS Health were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. EagleClaw Capital Managment LLC raised its position in 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 period. Manchester Capital Management LLC raised its holdings in CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock valued at $200,000 after buying an additional 204 shares during the period. Angeles Investment Advisors LLC boosted its stake in CVS Health by 3.7% during the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock worth $256,000 after buying an additional 204 shares during the period. Rogco LP increased its position in shares of CVS Health by 3.2% during the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after acquiring an additional 210 shares during the last quarter. Finally, Beck Mack & Oliver LLC raised its stake in shares of CVS Health by 1.1% in the 4th quarter. Beck Mack & Oliver LLC now owns 20,425 shares of the pharmacy operator's stock valued at $917,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CVS shares. Piper Sandler lifted their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Leerink Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Truist Financial boosted their price target on shares of CVS Health from $76.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.83.

Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction 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 sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased 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 directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by insiders.

CVS Health Trading Up 0.4 %

NYSE CVS opened at $65.40 on Wednesday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $71.45. The company has a market capitalization of $82.46 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. 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 firm's fifty day moving average price is $66.48 and its 200 day moving average price is $58.77.

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 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%. On average, sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 72.68%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.