CVS Health Co. (NYSE:CVS) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. cut its holdings in CVS Health Co. (NYSE:CVS) by 20.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 72,992 shares of the pharmacy operator’s stock after selling 18,799 shares during the period. Pettyjohn Wood & White Inc.’s holdings in CVS Health were worth $3,277,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CVS. MidAtlantic Capital Management Inc. acquired a new position in CVS Health in the third quarter valued at approximately $25,000. Ridgewood Investments LLC boosted its position in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the third quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter valued at $32,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. UBS Group reduced their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by insiders.

CVS Health Trading Up 1.1 %

CVS Health stock opened at $64.54 on Friday. The firm has a market cap of $81.37 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm’s 50 day moving average price is $53.90 and its two-hundred day moving average price is $56.40. 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 earnings results 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 return on equity of 9.11% and a net margin of 1.24%. On average, research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Thursday, January 23rd. 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.