Hazlett Burt & Watson Inc. Trims Stake in CVS Health Co. (NYSE:CVS)

Hazlett Burt & Watson Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,927 shares of the pharmacy operator’s stock after selling 648 shares during the period. Hazlett Burt & Watson Inc.’s holdings in CVS Health were worth $86,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC increased its position 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 purchased a new stake in shares of CVS Health during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc grew its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after acquiring an additional 466 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE CVS opened at $67.79 on Tuesday. The company has a market capitalization of $85.46 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.98 and a beta of 0.54. 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 Co. has a 1-year low of $43.56 and a 1-year high of $79.98. The business has a 50-day moving average of $62.42 and a 200-day moving average of $57.76.

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, 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%. On average, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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 given a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. CVS Health’s payout ratio is currently 72.68%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVS. Piper Sandler raised 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. Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.39.

Insider Activity

In related news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.