DORCHESTER WEALTH MANAGEMENT Co Has $5.50 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

DORCHESTER WEALTH MANAGEMENT Co decreased its holdings in CVS Health Co. (NYSE:CVS) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,445 shares of the pharmacy operator’s stock after selling 12,370 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CVS Health were worth $5,497,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after purchasing an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after purchasing an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 2.6 %

Shares of NYSE CVS opened at $63.42 on Friday. The firm’s 50-day moving average is $52.39 and its 200-day moving average is $56.22. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm has a market capitalization of $79.95 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping 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%. Equities analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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

Insider Buying and Selling

In related news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group dropped their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CVS Health presently has a consensus 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.