Delta Financial Advisors LLC Trims Holdings in CVS Health Co. (NYSE:CVS)

Delta Financial Advisors LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 49.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp boosted its holdings in CVS Health by 3.6% in 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 acquiring an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC increased its position in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock valued at $825,948,000 after buying an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 worth $748,085,000 after buying an additional 3,071,613 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

NYSE CVS opened at $63.65 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market capitalization of $80.24 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 0.98 and a beta of 0.61. The stock has a 50-day moving average of $53.11 and a 200 day moving average of $56.29. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is currently 72.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research increased their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Leerink Partners raised 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. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a 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’s stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $70.00.

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.