Welch & Forbes LLC Has $1.80 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Welch & Forbes LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,179 shares of the pharmacy operator's stock after selling 10,935 shares during the period. Welch & Forbes LLC's holdings in CVS Health were worth $1,804,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Widmann Financial Services Inc. lifted its position in shares of CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock worth $724,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of CVS Health by 4.8% during the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after purchasing an additional 204 shares during the period. Rogco LP lifted its position in shares of CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after buying an additional 210 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of CVS Health by 3.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator's stock valued at $304,000 after buying an additional 248 shares during the period. Finally, Glass Jacobson Investment Advisors llc raised its stake in CVS Health by 26.8% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,220 shares of the pharmacy operator's stock worth $77,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

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CVS Health Stock Up 0.6 %

CVS stock traded up $0.39 during trading hours on Monday, hitting $66.72. The company's stock had a trading volume of 1,524,700 shares, compared to its average volume of 11,725,636. The company has a market capitalization of $84.11 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock has a 50 day moving average price of $56.42 and a two-hundred day moving average price of $56.73. 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 Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

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

CVS Health Announces Dividend

The business 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 of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.99%. CVS Health's dividend payout ratio is currently 72.68%.

Insider Activity 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 shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CVS shares. Barclays upped their target price on CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective 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. TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, Truist Financial lifted their price target on CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.83.

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.