Boston Research & Management Inc. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Boston Research & Management Inc. cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 45.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,908 shares of the pharmacy operator's stock after selling 27,982 shares during the quarter. Boston Research & Management Inc.'s holdings in CVS Health were worth $1,522,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in CVS Health during the 4th quarter valued at approximately $839,574,000. Davis Selected Advisers boosted its position in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC raised its holdings 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. Hotchkis & Wiley Capital Management LLC lifted its position in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after buying an additional 3,071,613 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of CVS Health during the 4th quarter valued at $116,033,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the firm'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 sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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CVS Health Stock Performance

CVS stock traded down $2.60 during trading on Friday, reaching $64.91. The stock had a trading volume of 4,666,849 shares, compared to its average volume of 11,510,312. The firm has a market cap of $81.84 billion, a PE ratio of 17.75, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock's 50 day moving average is $63.29 and its two-hundred day moving average is $57.97. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $75.27.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.10%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Barclays lifted their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, UBS Group cut their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $70.39.

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.