SPC Financial Inc. Has $369,000 Holdings in CVS Health Co. (NYSE:CVS)

SPC Financial Inc. lessened its position in shares of CVS Health Co. (NYSE:CVS) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,225 shares of the pharmacy operator’s stock after selling 3,868 shares during the period. SPC Financial Inc.’s holdings in CVS Health were worth $369,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the 3rd quarter worth about $31,000. Ridgewood Investments LLC increased its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in CVS Health during the 3rd quarter worth about $40,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 2.8 %

CVS Health stock opened at $66.01 on Thursday. The stock has a 50-day simple moving average of $55.58 and a 200 day simple moving average of $56.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market capitalization of $83.23 billion, a P/E ratio of 18.04, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. Analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.03%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVS. Barclays increased their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Truist Financial raised their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Four 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.83.

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.