MMA Asset Management LLC Has $463,000 Position in CVS Health Co. (NYSE:CVS)

MMA Asset Management LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 31.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,319 shares of the pharmacy operator’s stock after selling 4,669 shares during the quarter. MMA Asset Management LLC’s holdings in CVS Health were worth $463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC increased 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 purchasing an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP increased its stake 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 worth $107,866,000 after purchasing an additional 2,371,563 shares during the last quarter. State Street Corp increased its stake in shares of 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 purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP acquired a new position in shares of CVS Health during the 3rd quarter worth about $121,987,000. Finally, Mizuho Markets Americas LLC increased its stake in shares of CVS Health by 1,470.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock worth $87,810,000 after purchasing an additional 1,307,531 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Truist Financial upped their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Wolfe Research upped their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.83.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

CVS Health Stock Performance

NYSE CVS opened at $65.85 on Friday. The firm has a 50-day moving average price of $54.33 and a two-hundred day moving average price of $56.47. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $83.02 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping 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%. Analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

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 issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

CVS Health 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.