Delta Financial Advisors LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Delta Financial Advisors LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 49.4% in the 4th quarter, HoldingsChannel reports. The fund owned 17,767 shares of the pharmacy operator’s stock after selling 17,329 shares during the quarter. Delta Financial Advisors LLC’s holdings in CVS Health were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after purchasing an additional 36,132 shares during the period. TD Private Client Wealth LLC raised its holdings in CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the period. Sompo Asset Management Co. Ltd. raised its stake in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the period. Finally, Hall Laurie J Trustee lifted its holdings in CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after purchasing an additional 11,468 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial raised their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Wells Fargo & Company increased their price target 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 equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Trading Up 1.0 %

Shares of CVS opened at $63.65 on Wednesday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. 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’s fifty day simple moving average is $53.11 and its 200-day simple moving average is $56.29. The company has a market cap of $80.24 billion, a P/E ratio of 17.39, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.18%. CVS Health’s payout ratio is 72.68%.

CVS Health Company 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.