TCTC Holdings LLC Has $17.05 Million Position in CVS Health Co. (NYSE:CVS)

TCTC Holdings LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 379,814 shares of the pharmacy operator’s stock after selling 10,535 shares during the quarter. TCTC Holdings LLC’s holdings in CVS Health were worth $17,050,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Widmann Financial Services Inc. raised its position in CVS Health by 1.8% during the third 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 in the last quarter. EagleClaw Capital Managment LLC raised its position in CVS Health by 3.4% during the fourth 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 in the last quarter. Manchester Capital Management LLC raised its position in CVS Health by 4.8% during the fourth 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 in the last quarter. Rogco LP raised its position in CVS Health by 3.2% during the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after purchasing an additional 210 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of CVS Health by 3.8% in the fourth quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator’s stock worth $304,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other 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 transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost 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 trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVS. JPMorgan Chase & Co. lifted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Barclays lifted their price objective on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial lifted their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Finally, Piper Sandler lowered their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Performance

Shares of CVS opened at $65.63 on Monday. The business’s fifty day simple moving average is $58.47 and its two-hundred day simple moving average is $56.98. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a market cap of $82.75 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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%. Research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. CVS Health’s payout ratio is 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.