Delta Financial Advisors LLC Decreases Position in CVS Health Co. (NYSE:CVS)

Delta Financial Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 49.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,767 shares of the pharmacy operator's stock after selling 17,329 shares during the quarter. Delta Financial Advisors LLC's holdings in CVS Health were worth $798,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC lifted 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 buying an additional 3,071,613 shares during the period. ARGA Investment Management LP lifted 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 buying an additional 2,371,563 shares during the period. State Street Corp lifted its holdings 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 during the period. TOMS Capital Investment Management LP acquired a new stake in shares of CVS Health in the 3rd quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock valued at $108,804,000 after buying an additional 1,701,331 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value 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. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

CVS Health Trading Up 2.1 %

Shares of NYSE:CVS traded up $1.37 during midday trading on Friday, reaching $65.85. The company's stock had a trading volume of 10,474,843 shares, compared to its average volume of 12,550,715. The firm has a market cap of $83.02 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. 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 business has a 50 day moving average price of $54.33 and a 200 day moving average price of $56.46.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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%. Research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVS. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. 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. 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. Evercore ISI lifted their price objective on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Barclays lifted their price objective on CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.