Pettee Investors Inc. Sells 700 Shares of CVS Health Co. (NYSE:CVS)

Pettee Investors Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 5.2% in the fourth quarter, HoldingsChannel reports. The firm owned 12,875 shares of the pharmacy operator’s stock after selling 700 shares during the period. Pettee Investors Inc.’s holdings in CVS Health were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Widmann Financial Services Inc. lifted its stake in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the period. EagleClaw Capital Managment LLC lifted its stake in shares of CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC lifted its stake in shares of CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after purchasing an additional 204 shares during the period. Rogco LP lifted its stake in shares of CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after purchasing an additional 210 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of CVS Health by 3.8% in the 4th quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator’s stock valued at $304,000 after purchasing an additional 248 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Wells Fargo & Company upped their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.83.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 price 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 of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

CVS Health Stock Performance

CVS stock opened at $66.34 on Friday. The firm has a market cap of $83.64 billion, a PE ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. 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 business has a 50 day moving average of $56.42 and a 200-day moving average of $56.75. 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 earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share 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 issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 72.68%.

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.