Proffitt & Goodson Inc. Increases Stake in CVS Health Co. (NYSE:CVS)

Proffitt & Goodson Inc. boosted its position in shares of CVS Health Co. (NYSE:CVS) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,321 shares of the pharmacy operator’s stock after purchasing an additional 1,084 shares during the period. Proffitt & Goodson Inc.’s holdings in CVS Health were worth $508,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $25,000. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Finally, Reston Wealth Management LLC bought a new position in shares of CVS Health in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased 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. JPMorgan Chase & Co. increased their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price objective on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note 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, Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Four research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Stock Up 2.1 %

Shares of CVS opened at $65.85 on Friday. The firm has a market capitalization of $83.02 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.61. 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. The firm has a fifty day moving average price of $54.33 and a 200-day moving average price of $56.46.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. CVS Health’s dividend payout ratio is presently 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.