CVS Health Co. (NYSE:CVS) Position Cut by TCTC Holdings LLC

TCTC Holdings LLC trimmed its stake in CVS Health Co. (NYSE:CVS) by 2.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 379,814 shares of the pharmacy operator’s stock after selling 10,535 shares during the quarter. TCTC Holdings LLC’s holdings in CVS Health were worth $17,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter valued at $25,000. Ridgewood Investments LLC lifted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the fourth quarter valued at about $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter valued at about $31,000. 80.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Finally, UBS Group lowered their target price 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 investment 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’s stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Performance

Shares of NYSE CVS opened at $65.63 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $58.47 and its two-hundred day moving average is $56.98. The company has a market cap of $82.75 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate 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 analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

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.