QRG Capital Management Inc. Sells 34,888 Shares of CVS Health Co. (NYSE:CVS)

QRG Capital Management Inc. decreased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 25.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,318 shares of the pharmacy operator's stock after selling 34,888 shares during the period. QRG Capital Management Inc.'s holdings in CVS Health were worth $4,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. AMF Tjanstepension AB grew its position in CVS Health by 124.1% during the third quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator's stock valued at $3,882,000 after purchasing an additional 34,198 shares in the last quarter. Catalyst Financial Partners LLC grew its position in CVS Health by 8.5% during the third quarter. Catalyst Financial Partners LLC now owns 4,402 shares of the pharmacy operator's stock valued at $277,000 after purchasing an additional 345 shares in the last quarter. United Asset Strategies Inc. grew its position in CVS Health by 2.4% during the third quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator's stock valued at $580,000 after purchasing an additional 212 shares in the last quarter. Reston Wealth Management LLC purchased a new position in CVS Health during the third quarter valued at approximately $32,000. Finally, Focus Financial Network Inc. grew its position in CVS Health by 2.9% during the third quarter. Focus Financial Network Inc. now owns 18,061 shares of the pharmacy operator's stock valued at $1,136,000 after purchasing an additional 512 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

NYSE:CVS traded down $0.90 during trading hours on Monday, hitting $64.82. 7,077,932 shares of the company traded hands, compared to its average volume of 12,413,927. The stock has a market capitalization of $81.72 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.61. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The firm has a 50-day moving average of $54.74 and a 200 day moving average of $56.53. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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, analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVS shares. JPMorgan Chase & Co. boosted their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Truist Financial boosted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company lifted their target price 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. Royal Bank of Canada reduced their target price 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, Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.