Congress Wealth Management LLC DE Has $8.55 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Congress Wealth Management LLC DE reduced its stake in CVS Health Co. (NYSE:CVS) by 31.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,377 shares of the pharmacy operator’s stock after selling 85,560 shares during the period. Congress Wealth Management LLC DE’s holdings in CVS Health were worth $8,546,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Davis Selected Advisers boosted its position in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CVS Health during the fourth quarter worth about $116,033,000. Finally, ARGA Investment Management LP lifted its holdings in shares of CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 1.5 %

CVS stock opened at $66.54 on Wednesday. The stock has a market cap of $83.89 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a fifty day moving average price of $61.22 and a two-hundred day moving average price of $57.46. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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 net margin of 1.24% and a return on equity of 9.11%. Equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is 72.68%.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost 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 in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction 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. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVS. Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. UBS Group cut their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.39.

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.