SPC Financial Inc. Decreases Holdings in CVS Health Co. (NYSE:CVS)

SPC Financial Inc. lessened its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 32.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,225 shares of the pharmacy operator's stock after selling 3,868 shares during the period. SPC Financial Inc.'s holdings in CVS Health were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter valued at about $25,000. Ridgewood Investments LLC raised 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 valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in CVS Health during the fourth quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the third quarter valued at about $31,000. Finally, Financial Perspectives Inc raised its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction that occurred 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 acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently commented on the company. 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. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. 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. 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. Finally, Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Four equities 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 company. According to data from MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $69.83.

CVS Health Stock Up 1.7 %

CVS Health stock traded up $1.09 during trading hours on Friday, hitting $66.34. 10,082,148 shares of the stock traded hands, compared to its average volume of 11,965,158. The firm's 50-day moving average price is $56.42 and its two-hundred day moving average price is $56.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market cap of $83.64 billion, a PE ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 dividend yield of 4.01%. CVS Health's dividend payout ratio is currently 72.68%.

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.