AlTi Global Inc. Cuts Position in CVS Health Co. (NYSE:CVS)

AlTi Global Inc. lowered its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,242 shares of the pharmacy operator's stock after selling 7,368 shares during the quarter. AlTi Global Inc.'s holdings in CVS Health were worth $6,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ridgewood Investments LLC increased its holdings in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $29,000. Financial Perspectives Inc raised its holdings in shares of 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 buying an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its position in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after buying an additional 437 shares during the period. Institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.13.

CVS Health Stock Down 0.5 %

Shares of CVS stock traded down $0.37 on Monday, hitting $67.09. 10,650,304 shares of the stock were exchanged, compared to its average volume of 11,505,470. The business has a 50-day moving average of $66.79 and a 200 day moving average of $58.81. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The firm has a market capitalization of $84.59 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. 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 issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm posted $1.31 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health's dividend payout ratio is 63.48%.

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.