Concurrent Investment Advisors LLC Has $2.12 Million Stake in CVS Health Co. (NYSE:CVS)

Concurrent Investment Advisors LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 22.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,248 shares of the pharmacy operator’s stock after selling 13,563 shares during the period. Concurrent Investment Advisors LLC’s holdings in CVS Health were worth $2,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its holdings in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares during the period. TD Private Client Wealth LLC boosted its position in CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Cullinan Associates Inc. boosted its position in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Principal Financial Group Inc. boosted its position in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after acquiring an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its position in CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after acquiring an additional 10,453 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 2.6 %

NYSE:CVS opened at $63.42 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market cap of $79.95 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $56.23.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate 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 expect that CVS Health Co. will post 5.9 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVS. UBS Group cut their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the company 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 upped their price target for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $70.00.

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.