Tower Bridge Advisors Has $503,000 Holdings in CVS Health Co. (NYSE:CVS)

Tower Bridge Advisors decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 67.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,211 shares of the pharmacy operator’s stock after selling 22,896 shares during the quarter. Tower Bridge Advisors’ holdings in CVS Health were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVS. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in shares of CVS Health by 8.1% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,000 shares of the pharmacy operator’s stock valued at $180,000 after acquiring an additional 300 shares during the last quarter. Versor Investments LP increased its position in shares of CVS Health by 55.9% during the 4th quarter. Versor Investments LP now owns 9,200 shares of the pharmacy operator’s stock worth $413,000 after purchasing an additional 3,300 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of CVS Health during the 4th quarter worth approximately $5,544,000. Oppenheimer & Co. Inc. boosted its holdings in shares of CVS Health by 3.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 103,378 shares of the pharmacy operator’s stock valued at $4,641,000 after buying an additional 3,530 shares during the last quarter. Finally, Kovack Advisors Inc. increased its holdings in CVS Health by 23.4% during the fourth quarter. Kovack Advisors Inc. now owns 10,940 shares of the pharmacy operator’s stock worth $491,000 after buying an additional 2,078 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 2.1 %

NYSE CVS opened at $65.85 on Friday. The company has a market cap of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $54.33 and a 200-day moving average of $56.46.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is presently 72.68%.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on CVS shares. UBS Group decreased their price objective 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. Evercore ISI lifted their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Wells Fargo & Company upped their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Finally, TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.83.

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.