Pettyjohn Wood & White Inc. Sells 18,799 Shares of CVS Health Co. (NYSE:CVS)

Pettyjohn Wood & White Inc. reduced its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,992 shares of the pharmacy operator's stock after selling 18,799 shares during the period. Pettyjohn Wood & White Inc.'s holdings in CVS Health were worth $3,277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new stake in CVS Health in the 4th quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter valued at $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth $32,000. Institutional investors own 80.66% of the company's stock.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. UBS Group reduced 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. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and raised their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Finally, Wells Fargo & Company raised their target price on CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.83.

CVS Health Trading Down 1.4 %

Shares of CVS stock traded down $0.90 during trading hours on Monday, reaching $64.82. The company had a trading volume of 7,067,486 shares, compared to its average volume of 12,413,437. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a 50 day moving average of $54.33 and a 200 day moving average of $56.47. The firm has a market cap of $81.72 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, January 23rd. CVS Health's payout ratio is presently 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.