MMA Asset Management LLC Has $463,000 Stock Position in CVS Health Co. (NYSE:CVS)

MMA Asset Management LLC lowered its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 31.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,319 shares of the pharmacy operator's stock after selling 4,669 shares during the quarter. MMA Asset Management LLC's holdings in CVS Health were worth $463,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the 3rd quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter valued at about $32,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in CVS Health during the fourth quarter valued at about $28,000. 80.66% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CVS shares. Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average target price of $69.83.

CVS Health Price Performance

Shares of CVS stock traded down $0.65 during trading hours on Monday, reaching $65.07. 3,159,483 shares of the company were exchanged, compared to its average volume of 12,313,177. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock's fifty day moving average is $54.33 and its two-hundred day moving average is $56.47. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a market cap of $82.04 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.09%. CVS Health's dividend payout ratio is presently 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.