Retirement Planning Co of New England Inc. Has $1.24 Million Position in CVS Health Co. (NYSE:CVS)

Retirement Planning Co of New England Inc. lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,528 shares of the pharmacy operator’s stock after selling 2,313 shares during the period. Retirement Planning Co of New England Inc.’s holdings in CVS Health were worth $1,236,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CVS. Davis Selected Advisers boosted its holdings in CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after acquiring an additional 11,018,438 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of 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 purchasing an additional 6,475,271 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of CVS Health by 34.8% during 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 purchasing an additional 3,071,613 shares during the period. 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 raised its position in CVS Health by 7,567.7% in 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 buying an additional 2,371,563 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVS. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Evercore ISI lifted their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Barclays lifted their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Truist Financial raised their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction that occurred on 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 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business’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 sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of NYSE CVS opened at $66.65 on Tuesday. The stock has a 50 day moving average of $58.89 and a 200-day moving average of $57.05. The company has a market capitalization of $84.03 billion, a P/E ratio of 18.21, a P/E/G ratio of 0.98 and a beta of 0.54. 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.

CVS Health (NYSE:CVS) last announced 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%. As a group, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.99%. CVS Health’s dividend payout ratio (DPR) is currently 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.