CVS Health Co. (NYSE:CVS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 98.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,537 shares of the pharmacy operator’s stock after selling 487,127 shares during the period. Federated Hermes Inc.’s holdings in CVS Health were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC grew its position in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health during the 4th quarter worth approximately $29,000. Financial Perspectives Inc boosted its position in CVS Health by 137.5% in the 4th 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 period. Finally, MidAtlantic Capital Management Inc. increased 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 acquiring an additional 437 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CVS. Mizuho boosted their target price on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. boosted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Piper Sandler raised 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. Morgan Stanley reiterated an “overweight” rating on shares of CVS Health in a report on Tuesday. Finally, Wolfe Research lifted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $71.83.

CVS Health Trading Down 2.0 %

Shares of CVS stock opened at $67.19 on Friday. The company has a market capitalization of $84.71 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. 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’s 50 day moving average is $66.22 and its two-hundred day moving average is $58.76. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $71.45.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating 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%. Equities analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s payout ratio is 72.68%.

Insider Activity

In related news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased 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 directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% 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.