Advisory Services Network LLC Sells 50,030 Shares of CVS Health Co. (NYSE:CVS)

Advisory Services Network LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,001 shares of the pharmacy operator's stock after selling 50,030 shares during the quarter. Advisory Services Network LLC's holdings in CVS Health were worth $2,469,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after acquiring an additional 689,867 shares during the last quarter. Pzena Investment Management LLC grew its stake in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. Norges Bank acquired a new position in shares of CVS Health in the 4th quarter valued at about $839,574,000. Invesco Ltd. increased its position in CVS Health by 30.1% in the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock worth $809,730,000 after buying an additional 4,173,243 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock valued at $579,932,000 after purchasing an additional 710,281 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.1 %

Shares of NYSE:CVS traded up $0.08 during midday trading on Wednesday, reaching $69.00. 3,243,586 shares of the company's stock were exchanged, compared to its average volume of 11,327,383. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $71.45. 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's 50 day simple moving average is $65.67 and its two-hundred day simple moving average is $58.63. The stock has a market cap of $86.99 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data 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%. As a group, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.86%. The ex-dividend date is Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company's stock, valued at $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. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on CVS shares. Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday. Piper Sandler increased their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Barclays raised their price objective on CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of "Moderate Buy" and an average target price 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.