Transcendent Capital Group LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

Transcendent Capital Group LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 50.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the pharmacy operator’s stock after selling 936 shares during the period. Transcendent Capital Group LLC’s holdings in CVS Health were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CVS. Hotchkis & Wiley Capital Management LLC raised its stake in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP lifted its holdings in shares of CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares during the last quarter. State Street Corp grew its stake in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP acquired a new position in CVS Health during the 3rd quarter valued at about $121,987,000. Finally, Pathway Financial Advisers LLC raised its stake in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CVS. 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 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 price target for the company in a report on Tuesday, December 3rd. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Truist Financial lifted their price target on 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 raised CVS Health from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Four 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Down 0.8 %

Shares of CVS stock opened at $62.95 on Tuesday. The stock has a 50 day simple moving average of $52.72 and a 200-day simple moving average of $56.25. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a market cap of $79.37 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.98 and a beta of 0.61. 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 (NYSE:CVS) last posted 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 net margin of 1.24% and a return on equity of 9.11%. On average, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.23%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.