Carlton Hofferkamp & Jenks Wealth Management LLC Sells 4,328 Shares of CVS Health Co. (NYSE:CVS)

Carlton Hofferkamp & Jenks Wealth Management LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 46.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,972 shares of the pharmacy operator’s stock after selling 4,328 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in CVS Health were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its position 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 in the last quarter. Geode Capital Management LLC lifted its position in CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its position in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after buying an additional 304,386 shares in the last quarter. Finally, 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. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVS has been the topic of several recent analyst reports. Royal Bank of Canada lowered their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Four investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $64.82 on Tuesday. The company’s 50 day moving average price is $54.74 and its two-hundred day moving average price is $56.53. 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 firm has a market cap of $81.72 billion, a PE ratio of 17.71, a PEG 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%. Equities research analysts predict 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 4.10%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.