GC Wealth Management RIA LLC Sells 1,859 Shares of CVS Health Co. (NYSE:CVS)

GC Wealth Management RIA LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 22.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,589 shares of the pharmacy operator’s stock after selling 1,859 shares during the quarter. GC Wealth Management RIA LLC’s holdings in CVS Health were worth $296,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors LLC boosted its position in CVS Health by 7.7% during the fourth quarter. Cornerstone Advisors LLC now owns 29,300 shares of the pharmacy operator’s stock worth $1,315,000 after purchasing an additional 2,100 shares during the period. Pzena Investment Management LLC boosted its position in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares during the period. Marathon Trading Investment Management LLC boosted its position in CVS Health by 213.8% during the fourth quarter. Marathon Trading Investment Management LLC now owns 43,622 shares of the pharmacy operator’s stock worth $1,958,000 after purchasing an additional 29,722 shares during the period. Daiwa Securities Group Inc. boosted its position in CVS Health by 7.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 165,314 shares of the pharmacy operator’s stock worth $7,421,000 after purchasing an additional 11,955 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CVS Health by 21.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 318,089 shares of the pharmacy operator’s stock worth $14,279,000 after purchasing an additional 56,895 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.4 %

NYSE:CVS opened at $64.98 on Wednesday. The firm’s 50-day moving average price is $57.24 and its 200-day moving average price is $56.83. The company has a market capitalization of $81.92 billion, a PE ratio of 17.75, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, equities analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVS. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Barclays increased their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $69.83.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now 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 document filed with the SEC, which is available at this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the company’s 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 purchase, the director now 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. 0.24% of the stock is currently owned by company insiders.

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.