Forvis Mazars Wealth Advisors LLC Has $985,000 Holdings in CVS Health Co. (NYSE:CVS)

Forvis Mazars Wealth Advisors LLC decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 17.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,936 shares of the pharmacy operator’s stock after selling 4,562 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in CVS Health were worth $985,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter valued at $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the 3rd quarter worth $32,000. Ridgewood Investments LLC boosted its holdings in CVS Health by 255.7% during the fourth 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 period. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at about $28,000. 80.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVS. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI boosted their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Transactions at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased 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. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

CVS Health Stock Performance

NYSE:CVS opened at $63.42 on Monday. The stock has a market capitalization of $79.95 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The firm has a 50 day moving average of $52.39 and a 200-day moving average of $56.20. 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 posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal 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 $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is presently 72.68%.

CVS Health Company 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.