Canada Pension Plan Investment Board Sells 19,510 Shares of CVS Health Co. (NYSE:CVS)

Canada Pension Plan Investment Board trimmed its position in CVS Health Co. (NYSE:CVS - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 795,090 shares of the pharmacy operator's stock after selling 19,510 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.06% of CVS Health worth $35,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. EagleClaw Capital Managment LLC boosted its position in CVS Health by 3.4% during the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock valued at $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC raised its stake in shares of CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after buying an additional 204 shares in the last quarter. Angeles Investment Advisors LLC lifted its holdings in CVS Health by 3.7% in the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after acquiring an additional 204 shares during the last quarter. Rogco LP boosted its holdings in CVS Health by 3.2% during the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after buying an additional 210 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its stake 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 worth $293,000 after acquiring an additional 233 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were purchased 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 directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is owned by insiders.

CVS Health Price Performance

CVS stock traded down $0.16 during trading on Thursday, hitting $65.41. 2,536,135 shares of the stock traded hands, compared to its average volume of 11,267,296. 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 has a market cap of $82.46 billion, a price-to-earnings ratio of 17.87, a P/E/G 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. The company has a 50 day simple moving average of $66.48 and a 200 day simple moving average of $58.82.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 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%. Equities analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.07%. CVS Health's payout ratio is 72.68%.

Analysts Set New Price Targets

CVS has been the topic of several analyst reports. Mizuho lifted their target price on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wolfe Research lifted their price target on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. UBS Group reduced their price objective on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Finally, Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Four equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.