Morton Community Bank Has $1.72 Million Holdings in CVS Health Co. (NYSE:CVS)

Morton Community Bank decreased its holdings in CVS Health Co. (NYSE:CVS) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,223 shares of the pharmacy operator’s stock after selling 549 shares during the period. Morton Community Bank’s holdings in CVS Health were worth $1,716,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CVS. Davis Selected Advisers increased its holdings in shares of 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 valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of 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 valued at $748,085,000 after purchasing an additional 3,071,613 shares during the period. Raymond James Financial Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at about $116,033,000. ARGA Investment Management LP increased its holdings in shares of 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 valued at $107,866,000 after purchasing an additional 2,371,563 shares during the period. Finally, State Street Corp grew 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. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were bought 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 directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVS. Wells Fargo & Company boosted their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Performance

Shares of NYSE CVS opened at $66.34 on Monday. The business has a fifty day simple moving average of $56.42 and a 200 day simple moving average of $56.73. 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 firm has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

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

CVS Health Dividend Announcement

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

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.