OLD Point Trust & Financial Services N A Sells 250 Shares of CVS Health Co. (NYSE:CVS)

OLD Point Trust & Financial Services N A trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,666 shares of the pharmacy operator’s stock after selling 250 shares during the period. OLD Point Trust & Financial Services N A’s holdings in CVS Health were worth $75,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Davis Selected Advisers increased its stake in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after acquiring an additional 6,475,271 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of CVS Health in the fourth quarter worth $116,033,000. Finally, ARGA Investment Management LP raised its position in shares of CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after buying an additional 2,371,563 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $67.84 on Thursday. The stock’s 50 day moving average price is $59.76 and its two-hundred day moving average price is $57.20. The stock has a market capitalization of $85.53 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.98 and a beta of 0.54. 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 Co. has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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%. On average, equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 3.92%. CVS Health’s payout ratio is currently 72.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVS shares. UBS Group dropped their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Barclays lifted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Truist Financial lifted their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Four research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was 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 of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.