CVS Health Co. (NYSE:CVS) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,797,449 shares of the pharmacy operator's stock after selling 527,213 shares during the quarter. Bank of New York Mellon Corp owned 0.70% of CVS Health worth $394,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its holdings in shares of 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 purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health in the 3rd quarter valued at approximately $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 2.1 %

Shares of NYSE CVS traded up $1.37 during midday trading on Friday, hitting $65.85. The stock had a trading volume of 10,474,843 shares, compared to its average volume of 12,550,715. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a fifty day moving average price of $54.33 and a 200 day moving average price of $56.47. The company has a market capitalization 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 (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CVS shares. Leerink Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a research 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 research report on Thursday, February 13th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Finally, Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.83.

Insider Buying and Selling at CVS Health

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

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.