Tower Bridge Advisors Sells 22,896 Shares of CVS Health Co. (NYSE:CVS)

Tower Bridge Advisors decreased its stake in CVS Health Co. (NYSE:CVS) by 67.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,211 shares of the pharmacy operator’s stock after selling 22,896 shares during the quarter. Tower Bridge Advisors’ holdings in CVS Health were worth $503,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC raised its position in CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its holdings in shares of CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the last quarter. Finally, Hall Laurie J Trustee increased its stake in shares of CVS Health by 25,484.4% in the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock valued at $517,000 after buying an additional 11,468 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling

In other CVS Health news, Director Michael F. Mahoney purchased 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, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

CVS Health Stock Up 2.1 %

Shares of NYSE CVS opened at $65.85 on Friday. 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 $83.02 billion, a PE ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.61. The company’s fifty day simple moving average is $54.33 and its 200 day simple moving average is $56.46. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given 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 payout ratio is 72.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVS shares. Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Tuesday, December 3rd. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

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.