Pine Valley Investments Ltd Liability Co Trims Stake in CVS Health Co. (NYSE:CVS)

Pine Valley Investments Ltd Liability Co lowered its stake in CVS Health Co. (NYSE:CVS - Free Report) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,742 shares of the pharmacy operator's stock after selling 4,009 shares during the quarter. Pine Valley Investments Ltd Liability Co's holdings in CVS Health were worth $752,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Integrated Advisors Network LLC raised its position in CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator's stock valued at $1,737,000 after purchasing an additional 200 shares during the last quarter. Widmann Financial Services Inc. raised its holdings in CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock valued at $724,000 after buying an additional 200 shares during the last quarter. Manchester Capital Management LLC grew its holdings in CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after acquiring an additional 204 shares during the last quarter. Rogco LP increased its position in CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after acquiring an additional 210 shares during the period. Finally, United Asset Strategies Inc. raised its stake in shares of CVS Health by 2.4% during the third quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator's stock valued at $580,000 after acquiring an additional 212 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVS. TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 25th. Truist Financial raised 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. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.83.

CVS Health Stock Up 2.1 %

CVS traded up $1.37 during trading on Friday, hitting $65.85. 10,474,843 shares of the company's stock were exchanged, compared to its average volume of 12,550,715. The stock has a market cap of $83.02 billion, a P/E ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. The business's 50 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 quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. As a group, equities analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal 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 issued 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 was Thursday, January 23rd. CVS Health's dividend payout ratio is 72.68%.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was purchased 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 approximately $2,625,045.20. This represents a 320.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

CVS Health 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.