American Assets Investment Management LLC Lowers Stake in CVS Health Co. (NYSE:CVS)

American Assets Investment Management LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,000 shares of the pharmacy operator’s stock after selling 20,000 shares during the quarter. American Assets Investment Management LLC’s holdings in CVS Health were worth $2,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Kennondale Capital Management LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at $888,000. Mystic Asset Management Inc. raised its position in shares of CVS Health by 86.5% during the 4th quarter. Mystic Asset Management Inc. now owns 31,945 shares of the pharmacy operator’s stock valued at $1,434,000 after buying an additional 14,820 shares in the last quarter. RD Lewis Holdings Inc. purchased a new stake in shares of CVS Health during the 4th quarter valued at $244,000. Cozad Asset Management Inc. grew its holdings in shares of CVS Health by 3.7% during the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator’s stock valued at $293,000 after purchasing an additional 233 shares during the last quarter. Finally, Cibc World Markets Corp grew its holdings in shares of CVS Health by 16.4% during the 4th quarter. Cibc World Markets Corp now owns 198,542 shares of the pharmacy operator’s stock valued at $8,913,000 after purchasing an additional 27,985 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.5 %

NYSE:CVS opened at $66.65 on Tuesday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a market cap of $84.03 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a 50-day moving average price of $58.89 and a 200-day moving average price of $57.05. 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 issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 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. Investors of record on Thursday, January 23rd were given 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 yield of 3.99%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Truist Financial increased their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Argus set a $77.00 price target on shares of CVS Health in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, 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 transaction 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 CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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.