Te Ahumairangi Investment Management Ltd Sells 27,110 Shares of CVS Health Co. (NYSE:CVS)

Te Ahumairangi Investment Management Ltd decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 22.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,862 shares of the pharmacy operator’s stock after selling 27,110 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in CVS Health were worth $4,124,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Arete Wealth Advisors LLC purchased a new position in CVS Health in the third quarter worth about $1,369,000. Edgestream Partners L.P. lifted its position in CVS Health by 7.4% in the third quarter. Edgestream Partners L.P. now owns 20,734 shares of the pharmacy operator’s stock worth $1,304,000 after buying an additional 1,437 shares during the last quarter. Erste Asset Management GmbH purchased a new position in CVS Health during the third quarter worth $6,109,000. Kestra Investment Management LLC bought a new position in CVS Health during the third quarter valued at $341,000. Finally, Atom Investors LP bought a new stake in shares of CVS Health in the 3rd quarter worth about $1,273,000. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

Shares of CVS stock opened at $67.88 on Wednesday. The stock’s 50-day moving average is $62.72 and its 200 day moving average is $57.83. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $75.27. 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 company has a market cap of $85.59 billion, a P/E ratio of 18.55, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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%. Research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.92%. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at $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 this link. Also, 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 transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVS shares. Argus set a $77.00 price target on shares of CVS Health in a report on Tuesday, February 18th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.39.

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.