CVS Health Co. (NYSE:CVS) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 32.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,165 shares of the pharmacy operator’s stock after selling 6,335 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in CVS Health were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. Atticus Wealth Management LLC grew its stake in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC grew its stake in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the period. Coston McIsaac & Partners raised its position in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new stake in CVS Health during the fourth quarter worth approximately $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on CVS shares. Wells Fargo & Company cut their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. SVB Leerink began coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Finally, StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Price Performance

Shares of CVS stock opened at $67.73 on Wednesday. The firm has a market cap of $85.37 billion, a P/E ratio of 10.48, a P/E/G ratio of 0.89 and a beta of 0.52. The firm has a fifty day moving average of $74.05 and a two-hundred day moving average of $73.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period in the previous year, the company earned $1.99 earnings per share. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.