Aigen Investment Management LP Sells 3,553 Shares of CVS Health Co. (NYSE:CVS)

Aigen Investment Management LP decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 39.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,371 shares of the pharmacy operator’s stock after selling 3,553 shares during the period. Aigen Investment Management LP’s holdings in CVS Health were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVS. Franklin Resources Inc. increased its holdings in CVS Health by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 10,565,389 shares of the pharmacy operator’s stock valued at $834,243,000 after purchasing an additional 146,378 shares during the last quarter. Brandes Investment Partners LP boosted its stake in CVS Health by 12.8% during the 4th quarter. Brandes Investment Partners LP now owns 1,383,429 shares of the pharmacy operator’s stock worth $109,236,000 after acquiring an additional 156,562 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of CVS Health by 34.0% in the 4th quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock valued at $610,000 after buying an additional 1,961 shares during the period. L.M. Kohn & Company raised its stake in CVS Health by 4.3% during the 4th quarter. L.M. Kohn & Company now owns 20,173 shares of the pharmacy operator’s stock worth $1,593,000 after buying an additional 839 shares during the period. Finally, Sachetta LLC acquired a new position in CVS Health in the fourth quarter valued at about $408,000. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.5 %

Shares of CVS Health stock opened at $56.46 on Friday. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25. The company has a market capitalization of $70.88 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 0.55 and a beta of 0.56. The business has a fifty day simple moving average of $67.57 and a two-hundred day simple moving average of $72.02. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is 46.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVS shares. The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada lowered their price objective 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. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the company from $99.00 to $59.00 in a research report on Tuesday, May 7th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.75.

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.