Hazlett Burt & Watson Inc. Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Hazlett Burt & Watson Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 25.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,927 shares of the pharmacy operator’s stock after selling 648 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in CVS Health were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVS. Ridgewood Investments LLC grew its stake in shares of CVS Health by 255.7% during the fourth 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 acquired a new position in shares of CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Finally, Financial Perspectives Inc boosted its holdings in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. UBS Group decreased their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Truist Financial lifted their target price on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Finally, Barclays boosted their price objective on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $70.39.

Insider Buying and Selling

In other CVS Health news, 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 transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

CVS Health Price Performance

Shares of NYSE:CVS opened at $67.79 on Tuesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $79.98. The company has a 50-day moving average price of $62.42 and a 200 day moving average price of $57.76. The company has a market cap of $85.46 billion, a P/E ratio of 18.52, a PEG ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS 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%. Research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.92%. 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.