First Horizon Advisors Inc. Has $310,000 Stake in CVS Health Co. (NYSE:CVS)

First Horizon Advisors Inc. reduced its position in shares of CVS Health Co. (NYSE:CVS) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,902 shares of the pharmacy operator’s stock after selling 2,022 shares during the quarter. First Horizon Advisors Inc.’s holdings in CVS Health were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC lifted its stake in CVS Health by 34.8% in 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 acquiring an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP lifted its position 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 worth $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. State Street Corp boosted its holdings in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health in the 3rd quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC lifted its position in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on 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 purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVS shares. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company lifted their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.00.

CVS Health Price Performance

NYSE CVS opened at $63.65 on Wednesday. The stock has a 50-day simple moving average of $53.11 and a 200 day simple moving average of $56.29. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock has a market capitalization of $80.24 billion, a PE ratio of 17.39, a P/E/G ratio of 0.98 and a beta of 0.61. 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 issued 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 return on equity of 9.11% and a net margin of 1.24%. Research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed 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 was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. 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.