Roanoke Asset Management Corp NY Sells 1,378 Shares of CVS Health Co. (NYSE:CVS)

Roanoke Asset Management Corp NY lessened its holdings in CVS Health Co. (NYSE:CVS) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,966 shares of the pharmacy operator’s stock after selling 1,378 shares during the period. Roanoke Asset Management Corp NY’s holdings in CVS Health were worth $1,570,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP raised its position in shares of CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after buying an additional 2,371,563 shares in the last quarter. State Street Corp boosted its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the third quarter valued at approximately $121,987,000. Finally, Mizuho Markets Americas LLC raised its position in shares of CVS Health by 1,470.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock valued at $87,810,000 after buying an additional 1,307,531 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 2.1 %

Shares of NYSE:CVS opened at $65.85 on Friday. 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 stock has a fifty day simple moving average of $54.33 and a two-hundred day simple moving average of $56.46. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The stock has a market capitalization of $83.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 dividend yield of 4.04%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 72.68%.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVS shares. Wells Fargo & Company upped their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted 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. Truist Financial raised their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Leerink Partners upgraded 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 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.