DORCHESTER WEALTH MANAGEMENT Co Sells 12,370 Shares of CVS Health Co. (NYSE:CVS)

DORCHESTER WEALTH MANAGEMENT Co cut its holdings in CVS Health Co. (NYSE:CVS) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,445 shares of the pharmacy operator’s stock after selling 12,370 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CVS Health were worth $5,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP raised its holdings in shares of CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares during the last quarter. State Street Corp raised its holdings in shares of CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP acquired a new stake in shares of CVS Health in the third quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC raised its holdings in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

CVS Health Trading Down 2.6 %

Shares of CVS Health stock opened at $63.42 on Friday. The firm has a 50-day moving average of $52.39 and a 200-day moving average of $56.22. The stock has a market cap of $79.95 billion, a PE ratio of 17.33, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.19%. CVS Health’s payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

CVS has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.00.

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.