CVS Health Co. (NYSE:CVS) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 4.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 20,539 shares of the pharmacy operator’s stock after selling 869 shares during the period. Essex Financial Services Inc.’s holdings in CVS Health were worth $922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bristlecone Advisors LLC lifted its stake in CVS Health by 4.3% during the fourth quarter. Bristlecone Advisors LLC now owns 10,788 shares of the pharmacy operator’s stock worth $484,000 after purchasing an additional 448 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at $111,000. Robinson Value Management Ltd. grew its holdings in shares of CVS Health by 8.3% during the fourth quarter. Robinson Value Management Ltd. now owns 33,083 shares of the pharmacy operator’s stock worth $1,485,000 after purchasing an additional 2,531 shares during the last quarter. Stoneridge Investment Partners LLC grew its stake in CVS Health by 275.1% during the 4th quarter. Stoneridge Investment Partners LLC now owns 207,651 shares of the pharmacy operator’s stock worth $9,321,000 after buying an additional 152,296 shares during the last quarter. Finally, Thompson Investment Management Inc. increased its holdings in shares of CVS Health by 7.8% in the 4th quarter. Thompson Investment Management Inc. now owns 145,783 shares of the pharmacy operator’s stock valued at $6,544,000 after acquiring an additional 10,534 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS opened at $55.01 on Wednesday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The stock has a market cap of $69.23 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.60 and a beta of 0.61. The stock’s 50 day simple moving average is $50.69 and its 200 day simple moving average is $55.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Leerink Partners upped their target price on shares of CVS Health from $51.00 to $55.00 and gave the company a “market perform” rating in a report on Tuesday. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. UBS Group cut their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.78.

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.