Mendel Money Management Has $541,000 Stock Position in CVS Health Co. (NYSE:CVS)

Mendel Money Management cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 28.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,062 shares of the pharmacy operator’s stock after selling 4,785 shares during the period. Mendel Money Management’s holdings in CVS Health were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $2,795,000. Nwam LLC acquired a new stake in shares of CVS Health in the third quarter valued at about $230,000. Larson Financial Group LLC raised its holdings in CVS Health by 258.9% during the third quarter. Larson Financial Group LLC now owns 3,542 shares of the pharmacy operator’s stock worth $223,000 after acquiring an additional 2,555 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in CVS Health in the third quarter valued at approximately $663,000. Finally, Daiwa Securities Group Inc. increased its position in shares of CVS Health by 12.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 153,359 shares of the pharmacy operator’s stock worth $9,643,000 after purchasing an additional 16,549 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $66.54 on Wednesday. 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 one year low of $43.56 and a one year high of $80.75. The stock’s 50 day moving average is $61.22 and its 200 day moving average is $57.46. The firm has a market cap of $83.89 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.00%. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction on 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 purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVS shares. Piper Sandler boosted their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.