Addison Capital Co Has $651,000 Stock Position in CVS Health Co. (NYSE:CVS)

Addison Capital Co trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 16.4% during the fourth quarter, HoldingsChannel reports. The fund owned 14,499 shares of the pharmacy operator’s stock after selling 2,834 shares during the period. Addison Capital Co’s holdings in CVS Health were worth $651,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CVS. Altus Wealth Group LLC increased its holdings in shares of CVS Health by 5.5% during the 4th quarter. Altus Wealth Group LLC now owns 5,501 shares of the pharmacy operator’s stock worth $247,000 after acquiring an additional 287 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in CVS Health by 63.3% during the fourth quarter. Frank Rimerman Advisors LLC now owns 11,787 shares of the pharmacy operator’s stock worth $529,000 after purchasing an additional 4,571 shares during the period. Intact Investment Management Inc. raised its position in shares of CVS Health by 240.8% in the fourth quarter. Intact Investment Management Inc. now owns 274,000 shares of the pharmacy operator’s stock valued at $12,300,000 after purchasing an additional 193,600 shares during the period. Aviso Financial Inc. lifted its stake in shares of CVS Health by 52.6% during the 4th quarter. Aviso Financial Inc. now owns 14,104 shares of the pharmacy operator’s stock worth $633,000 after buying an additional 4,862 shares during the last quarter. Finally, LBP AM SA acquired a new position in CVS Health in the 4th quarter valued at about $6,541,000. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value 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 trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research analyst reports. Wolfe Research boosted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Truist Financial lifted their target price on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Barclays lifted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Four 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’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Performance

Shares of CVS stock opened at $65.63 on Monday. The business’s 50-day moving average price is $58.47 and its 200-day moving average price is $56.98. The firm has a market capitalization of $82.75 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. 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 (NYSE:CVS) last announced its quarterly 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 net margin of 1.24% and a return on equity of 9.11%. Equities research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. 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.