Lake Street Advisors Group LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Lake Street Advisors Group LLC reduced its position in CVS Health Co. (NYSE:CVS) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,146 shares of the pharmacy operator’s stock after selling 1,855 shares during the quarter. Lake Street Advisors Group LLC’s holdings in CVS Health were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter valued at about $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the fourth 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 purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of a number of analyst reports. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Evercore ISI boosted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $64.54 on Friday. The stock’s 50-day moving average is $53.90 and its 200 day moving average is $56.40. The stock has a market cap of $81.37 billion, a price-to-earnings ratio of 17.63, a P/E/G 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 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 posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal 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 paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.12%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

CVS Health 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.