Townsend & Associates Inc cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,532 shares of the pharmacy operator’s stock after selling 1,020 shares during the period. CVS Health accounts for approximately 2.2% of Townsend & Associates Inc’s investment portfolio, making the stock its 5th biggest holding. Townsend & Associates Inc’s holdings in CVS Health were worth $2,509,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Ausdal Financial Partners Inc. increased its position in shares of CVS Health by 3.0% in the 3rd quarter. Ausdal Financial Partners Inc. now owns 4,566 shares of the pharmacy operator’s stock valued at $288,000 after acquiring an additional 134 shares during the period. Larson Financial Group LLC increased its position in shares of CVS Health by 13.6% in the 4th quarter. Larson Financial Group LLC now owns 1,279 shares of the pharmacy operator’s stock valued at $95,000 after acquiring an additional 153 shares during the period. Baldwin Brothers Inc. MA increased its position in shares of CVS Health by 1.1% in the 3rd quarter. Baldwin Brothers Inc. MA now owns 14,911 shares of the pharmacy operator’s stock valued at $941,000 after acquiring an additional 165 shares during the period. Sound Income Strategies LLC increased its position in shares of CVS Health by 24.3% in the 4th quarter. Sound Income Strategies LLC now owns 860 shares of the pharmacy operator’s stock valued at $64,000 after acquiring an additional 168 shares during the period. Finally, Mutual Advisors LLC increased its position in shares of CVS Health by 0.8% in the 2nd quarter. Mutual Advisors LLC now owns 20,641 shares of the pharmacy operator’s stock valued at $1,125,000 after acquiring an additional 172 shares during the period. 76.64% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CVS traded up $1.07 during mid-day trading on Tuesday, hitting $73.83. The company’s stock had a trading volume of 6,483,912 shares, compared to its average volume of 5,820,675. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $77.03. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.61. The stock has a market cap of $93.81 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 1.54 and a beta of 0.89. The business’s fifty day moving average is $74.18 and its two-hundred day moving average is $65.12.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.07. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. Analysts anticipate that CVS Health Corp will post 7.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, January 22nd. CVS Health’s payout ratio is currently 28.25%.

In other news, EVP Karen S. Lynch sold 80,143 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the sale, the executive vice president now directly owns 41,831 shares of the company’s stock, valued at approximately $3,137,325. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jonathan C. Roberts sold 57,563 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $72.63, for a total transaction of $4,180,800.69. Following the sale, the chief operating officer now directly owns 102,608 shares in the company, valued at $7,452,419.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,310 shares of company stock worth $11,796,598. Corporate insiders own 0.53% of the company’s stock.

Several equities analysts recently issued reports on CVS shares. Raymond James reissued a “strong-buy” rating and issued a $90.00 target price (up from $80.00) on shares of CVS Health in a research report on Wednesday, December 4th. ValuEngine downgraded CVS Health from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th. Royal Bank of Canada initiated coverage on shares of CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $88.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, UBS Group reaffirmed a “buy” rating and issued a $78.00 price target on shares of CVS Health in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $77.43.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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