Pettee Investors Inc. Sells 700 Shares of CVS Health Co. (NYSE:CVS)

Pettee Investors Inc. reduced its holdings in CVS Health Co. (NYSE:CVS) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,875 shares of the pharmacy operator’s stock after selling 700 shares during the period. Pettee Investors Inc.’s holdings in CVS Health were worth $578,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVS. Davis Selected Advisers increased its position in CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after buying an additional 11,018,438 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in CVS Health by 34.8% in 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 buying an additional 3,071,613 shares during the period. Raymond James Financial Inc. bought a new position in CVS Health in the 4th quarter worth approximately $116,033,000. ARGA Investment Management LP increased its position in CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after buying an additional 2,371,563 shares during the period. Finally, State Street Corp increased its position in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVS. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Truist Financial lifted their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, UBS Group decreased their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Four 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price 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 $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

CVS Health stock opened at $66.34 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The firm has a market cap of $83.64 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. The business’s fifty day moving average is $56.42 and its two-hundred day moving average is $56.75. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

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.