1620 Investment Advisors Inc. Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

1620 Investment Advisors Inc. lowered its holdings in CVS Health Co. (NYSE:CVS) by 25.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,247 shares of the pharmacy operator’s stock after selling 757 shares during the period. 1620 Investment Advisors Inc.’s holdings in CVS Health were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% in 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 during the period. Stonebridge Financial Group LLC acquired a new position in CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the third quarter valued at $31,000. Finally, Financial Perspectives Inc boosted its holdings in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 2.1 %

Shares of NYSE CVS opened at $67.22 on Friday. The stock’s 50 day moving average price is $60.60 and its two-hundred day moving average price is $57.34. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The stock has a market capitalization of $84.75 billion, a P/E ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. 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 (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, 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, 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is currently 72.68%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVS shares. Truist Financial lifted their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Four 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.