Ethic Inc. Sells 15,035 Shares of CVS Health Co. (NYSE:CVS)

Ethic Inc. lowered its stake in CVS Health Co. (NYSE:CVS - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,997 shares of the pharmacy operator's stock after selling 15,035 shares during the period. Ethic Inc.'s holdings in CVS Health were worth $2,199,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health in the 4th quarter worth $29,000. Financial Perspectives Inc lifted its position in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. lifted its position in CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after buying an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new stake in CVS Health during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock traded up $0.38 during trading on Thursday, hitting $60.42. The company's stock had a trading volume of 11,209,003 shares, compared to its average volume of 11,467,725. The company has a market cap of $76.43 billion, a PE ratio of 16.51, a P/E/G 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. The business has a fifty day moving average of $66.71 and a 200-day moving average of $59.15. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, 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 Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.40%. CVS Health's payout ratio is presently 63.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Finally, UBS Group lifted their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business'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. The trade was a 47.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, 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. Insiders own 1.22% of the company's stock.

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.