Intact Investment Management Inc. Sells 54,000 Shares of CVS Health Co. (NYSE:CVS)

Intact Investment Management Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 38.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,300 shares of the pharmacy operator’s stock after selling 54,000 shares during the quarter. Intact Investment Management Inc.’s holdings in CVS Health were worth $6,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atticus Wealth Management LLC increased its holdings 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 buying an additional 219 shares during the period. Cornerstone Planning Group LLC boosted its position in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC lifted its position 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 acquiring an additional 400 shares during the period. Coston McIsaac & Partners lifted its position in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of CVS Health during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. SVB Leerink initiated coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target for the company. Royal Bank of Canada reduced their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Wells Fargo & Company reduced their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Stock Down 0.2 %

NYSE CVS traded down $0.15 on Friday, reaching $67.18. The company had a trading volume of 6,396,438 shares, compared to its average volume of 8,376,818. The firm has a 50-day moving average of $74.42 and a 200-day moving average of $73.64. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The firm has a market capitalization of $84.68 billion, a PE ratio of 10.40, a P/E/G ratio of 0.89 and a beta of 0.52. 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 (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the prior year, the business posted $1.99 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

About CVS Health

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.