Pekin Hardy Strauss Inc. Sells 6,335 Shares of CVS Health Co. (NYSE:CVS)

Pekin Hardy Strauss Inc. lessened its position in CVS Health Co. (NYSE:CVS) by 32.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% during the fourth 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 last quarter. Cornerstone Planning Group LLC lifted its position in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the last quarter. ZRC Wealth Management LLC boosted its stake in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares during the period. Coston McIsaac & Partners lifted its holdings in 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 buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in CVS Health in the 4th quarter worth about $50,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 0.4 %

Shares of CVS stock opened at $67.73 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The firm has a market capitalization of $85.37 billion, a PE ratio of 10.48, a P/E/G ratio of 0.89 and a beta of 0.52. The stock’s 50-day simple moving average is $74.05 and its 200-day simple moving average is $73.62.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the prior year, the company earned $1.99 EPS. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts expect that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

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

Insider Activity at CVS Health

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CVS shares. SVB Leerink began coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target for the company. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a 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 report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $89.44.

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.