Van Cleef Asset Management Inc Sells 81,364 Shares of CVS Health Co. (NYSE:CVS)

Van Cleef Asset Management Inc lowered its position in shares of CVS Health Co. (NYSE:CVS) by 73.7% during the fourth quarter, HoldingsChannel reports. The fund owned 28,996 shares of the pharmacy operator’s stock after selling 81,364 shares during the quarter. Van Cleef Asset Management Inc’s holdings in CVS Health were worth $2,290,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC increased its holdings in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after purchasing an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board lifted its holdings in CVS Health by 49.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after buying an additional 698,054 shares during the period. Pacer Advisors Inc. raised its position in shares of CVS Health by 12.6% during the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after acquiring an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in CVS Health during the 3rd quarter valued at approximately $34,379,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of CVS stock traded down $0.45 during trading on Thursday, hitting $67.32. The company’s stock had a trading volume of 8,915,583 shares, compared to its average volume of 10,708,336. The business has a fifty day moving average of $74.80 and a 200-day moving average of $73.72. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The company has a market cap of $84.86 billion, a PE ratio of 10.36, a P/E/G ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $1.99 EPS. As a group, research analysts anticipate 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. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVS shares. Cantor Fitzgerald reissued an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research note on Wednesday, April 10th. Royal Bank of Canada cut their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. 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. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Finally, Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Buying and Selling

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

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.