RMR Wealth Builders Sells 736 Shares of CVS Health Co. (NYSE:CVS)

RMR Wealth Builders trimmed its position in CVS Health Co. (NYSE:CVS) by 5.3% in the first quarter, Holdings Channel reports. The fund owned 13,086 shares of the pharmacy operator’s stock after selling 736 shares during the quarter. RMR Wealth Builders’ holdings in CVS Health were worth $887,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Whitebox Advisors LLC bought a new position in CVS Health during the 4th quarter worth $249,000. B&D White Capital Company LLC bought a new position in CVS Health during the 4th quarter worth $417,000. Fairfax Financial Holdings Ltd. Can bought a new position in CVS Health during the 4th quarter worth $121,742,000. Lazard Asset Management LLC raised its position in CVS Health by 7.3% during the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator’s stock worth $192,617,000 after purchasing an additional 293,406 shares during the last quarter. Finally, Seizert Capital Partners LLC raised its position in CVS Health by 22.8% during the 4th quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator’s stock worth $25,566,000 after purchasing an additional 105,708 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVS. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Mizuho raised their target price on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $84.00 target price (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Piper Sandler lifted their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $74.75.

CVS Health Stock Performance

Shares of CVS opened at $66.34 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a 50-day moving average of $65.16 and a 200-day moving average of $60.09. The company has a market cap of $83.92 billion, a PE ratio of 18.13, a P/E/G ratio of 0.98 and a beta of 0.56. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.31 EPS. On average, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. CVS Health’s dividend payout ratio is presently 63.48%.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company’s stock.

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.