Congress Wealth Management LLC DE Has $8.55 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Congress Wealth Management LLC DE cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 31.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,377 shares of the pharmacy operator’s stock after selling 85,560 shares during the period. Congress Wealth Management LLC DE’s holdings in CVS Health were worth $8,546,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ridgewood Investments LLC increased its holdings 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 buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health in the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter worth about $31,000. Finally, Financial Perspectives Inc increased its stake in shares of 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 buying an additional 466 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the business’s 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 in the company, 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. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $66.54 on Wednesday. The company has a market capitalization of $83.89 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The business has a 50-day simple moving average of $61.22 and a two-hundred day simple moving average of $57.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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 expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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. This represents a $2.66 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is 72.68%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Wells Fargo & Company upped their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

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.