Allen Wealth Management LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Allen Wealth Management LLC lessened its holdings in CVS Health Co. (NYSE:CVS) by 19.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,915 shares of the pharmacy operator’s stock after selling 1,198 shares during the period. Allen Wealth Management LLC’s holdings in CVS Health were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Arete Wealth Advisors LLC bought a new position in CVS Health during the third quarter valued at about $1,369,000. Edgestream Partners L.P. increased its stake in shares of CVS Health by 7.4% during the 3rd quarter. Edgestream Partners L.P. now owns 20,734 shares of the pharmacy operator’s stock worth $1,304,000 after purchasing an additional 1,437 shares during the last quarter. Atom Investors LP bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $1,273,000. Benjamin Edwards Inc. lifted its stake in CVS Health by 548.2% in the third quarter. Benjamin Edwards Inc. now owns 35,837 shares of the pharmacy operator’s stock valued at $2,254,000 after purchasing an additional 30,308 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in CVS Health by 31.1% during the third quarter. Hilltop Holdings Inc. now owns 22,265 shares of the pharmacy operator’s stock valued at $1,400,000 after purchasing an additional 5,286 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVS shares. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 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 report on Wednesday, February 12th. Barclays raised their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Price Performance

CVS opened at $68.14 on Thursday. The stock has a market capitalization of $85.91 billion, a P/E ratio of 18.62, a PEG ratio of 0.98 and a beta of 0.54. 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 Co. has a 12-month low of $43.56 and a 12-month high of $75.27. The stock has a 50-day moving average price of $63.02 and a 200-day moving average price of $57.91.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. Equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought 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 in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

About CVS Health

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.