Boyar Asset Management Inc. Decreases Holdings in CVS Health Co. (NYSE:CVS)

Boyar Asset Management Inc. reduced its stake in CVS Health Co. (NYSE:CVS) by 5.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,673 shares of the pharmacy operator’s stock after selling 1,132 shares during the quarter. Boyar Asset Management Inc.’s holdings in CVS Health were worth $928,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% during the 4th 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. Stonebridge Financial Group LLC purchased a new position in CVS Health in the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the fourth quarter valued at $29,000. Financial Perspectives Inc increased its position in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. raised its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $65.00 on Wednesday. The company’s fifty day moving average price is $66.45 and its 200-day moving average price is $58.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market capitalization of $81.95 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a one year low of $43.56 and a one year high of $71.45.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.09%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVS. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. UBS Group lowered their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.83.

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.