Tower Bridge Advisors Sells 22,896 Shares of CVS Health Co. (NYSE:CVS)

Tower Bridge Advisors cut its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 67.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,211 shares of the pharmacy operator's stock after selling 22,896 shares during the quarter. Tower Bridge Advisors' holdings in CVS Health were worth $503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in CVS Health by 8.1% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,000 shares of the pharmacy operator's stock worth $180,000 after acquiring an additional 300 shares during the period. Versor Investments LP raised its position in CVS Health by 55.9% in the fourth quarter. Versor Investments LP now owns 9,200 shares of the pharmacy operator's stock worth $413,000 after acquiring an additional 3,300 shares during the period. Proficio Capital Partners LLC bought a new stake in CVS Health in the fourth quarter worth about $5,544,000. Oppenheimer & Co. Inc. raised its position in CVS Health by 3.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 103,378 shares of the pharmacy operator's stock worth $4,641,000 after acquiring an additional 3,530 shares during the period. Finally, Kovack Advisors Inc. raised its position in CVS Health by 23.4% in the fourth quarter. Kovack Advisors Inc. now owns 10,940 shares of the pharmacy operator's stock worth $491,000 after acquiring an additional 2,078 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

CVS stock traded down $0.90 during midday trading on Monday, reaching $64.82. The company had a trading volume of 7,077,932 shares, compared to its average volume of 12,413,927. 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 market capitalization of $81.72 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.61. The firm has a 50-day moving average price of $54.74 and a 200-day moving average price of $56.53.

CVS Health (NYSE:CVS - Get Free Report) last released 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 net margin of 1.24% and a return on equity of 9.11%. On average, research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.10%. CVS Health's dividend payout ratio (DPR) is 72.68%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research reports. Wolfe Research boosted their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Finally, Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $55.00 to $75.00 in a research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.83.

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.