Y Intercept Hong Kong Ltd Reduces Stake in CVS Health Co. (NYSE:CVS)

Y Intercept Hong Kong Ltd cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 78.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,740 shares of the pharmacy operator's stock after selling 132,634 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in CVS Health were worth $1,604,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter worth $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health in the fourth quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter worth $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health in the third quarter worth $32,000. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CVS shares. Piper Sandler reduced their target price on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Truist Financial increased their target price on CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, UBS Group reduced 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. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.83.

CVS Health Stock Up 2.1 %

CVS Health stock traded up $1.37 during trading hours on Friday, reaching $65.85. The stock had a trading volume of 10,474,843 shares, compared to its average volume of 12,550,715. The company has a market cap of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. 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 business's 50 day moving average price is $54.33 and its 200-day moving average price is $56.46. CVS Health Co. has a 52 week low of $43.56 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Sell-side analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.04%. CVS Health's payout ratio 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.