Allen Wealth Management LLC Sells 1,198 Shares of CVS Health Co. (NYSE:CVS)

Allen Wealth Management LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 19.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,915 shares of the pharmacy operator’s stock after selling 1,198 shares during the quarter. Allen Wealth Management LLC’s holdings in CVS Health were worth $221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Motley Fool Asset Management LLC increased its position in CVS Health by 14.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 65,668 shares of the pharmacy operator’s stock valued at $2,948,000 after purchasing an additional 8,198 shares during the period. World Investment Advisors boosted its stake in shares of CVS Health by 16.0% during the 4th quarter. World Investment Advisors now owns 31,947 shares of the pharmacy operator’s stock valued at $1,434,000 after purchasing an additional 4,404 shares in the last quarter. OneAscent Financial Services LLC increased its position in shares of CVS Health by 22.7% during the fourth quarter. OneAscent Financial Services LLC now owns 6,027 shares of the pharmacy operator’s stock valued at $271,000 after buying an additional 1,117 shares during the period. Headlands Technologies LLC bought a new position in CVS Health in the fourth quarter worth about $1,864,000. Finally, Geode Capital Management LLC lifted its holdings in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after buying an additional 689,867 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.2 %

Shares of NYSE:CVS opened at $68.14 on Thursday. 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 $75.27. The company has a market cap of $85.91 billion, a P/E ratio of 18.62, a PEG ratio of 0.98 and a beta of 0.54. The stock’s fifty day moving average price is $63.02 and its 200-day moving average price is $57.91.

CVS Health (NYSE:CVS) last posted its earnings results 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 net margin of 1.24% and a return on equity of 9.11%. Sell-side 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 announced 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. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.90%. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVS shares. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI upped their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. UBS Group lowered their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on shares of CVS Health from $68.00 to $73.00 and gave the stock 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.39.

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.