SPC Financial Inc. Has $369,000 Stake in CVS Health Co. (NYSE:CVS)

SPC Financial Inc. trimmed its holdings in CVS Health Co. (NYSE:CVS) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,225 shares of the pharmacy operator’s stock after selling 3,868 shares during the period. SPC Financial Inc.’s holdings in CVS Health were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter valued at approximately $31,000. Ridgewood Investments LLC raised its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in CVS Health during the third quarter valued at approximately $40,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the subject of several research 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 for the company in a research report on Friday, November 15th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial boosted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Stock Performance

Shares of CVS Health stock opened at $66.01 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a market cap of $83.23 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 0.98 and a beta of 0.61. The company’s fifty day moving average is $55.58 and its 200 day moving average is $56.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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 net margin of 1.24% and a return on equity of 9.11%. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.03%. CVS Health’s payout ratio is 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.