Addison Advisors LLC Sells 1,389 Shares of CVS Health Co. (NYSE:CVS)

Addison Advisors LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,426 shares of the pharmacy operator’s stock after selling 1,389 shares during the quarter. Addison Advisors LLC’s holdings in CVS Health were worth $288,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC grew its position in shares of CVS Health by 34.8% in 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 buying an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP grew its position in shares of CVS Health by 7,567.7% in the 4th 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 during the last quarter. State Street Corp grew its position in shares of CVS Health by 3.6% in 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 bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC boosted its position in shares of CVS Health by 5,864.2% during 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 purchasing an additional 1,701,331 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. Truist Financial lifted their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. 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 stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Stock Down 0.8 %

CVS stock opened at $62.95 on Tuesday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The business has a fifty day moving average price of $52.72 and a 200-day moving average price of $56.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market capitalization of $79.37 billion, a P/E ratio of 17.20, a P/E/G 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 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%. Equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal 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 given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

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.