Capital World Investors Has $2.74 Billion Stock Position in CVS Health Co. (NYSE:CVS)

Capital World Investors boosted its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 26.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,039,777 shares of the pharmacy operator's stock after purchasing an additional 12,819,148 shares during the quarter. Capital World Investors owned about 4.85% of CVS Health worth $2,739,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CVS. Ridgewood Investments LLC lifted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health during the fourth quarter valued at approximately $29,000. Financial Perspectives Inc raised its holdings 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 purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. grew its holdings in shares of CVS Health by 112.1% in the 4th 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. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS traded up $0.13 on Wednesday, reaching $65.58. The company had a trading volume of 10,463,576 shares, compared to its average volume of 11,378,174. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $71.45. The stock has a market cap of $82.68 billion, a P/E ratio of 17.92, a P/E/G ratio of 0.98 and a beta of 0.57. The company's fifty day moving average is $66.48 and its 200 day moving average is $58.77. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 72.68%.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost 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 $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVS. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Piper Sandler boosted their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Mizuho increased their price objective 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. Finally, Barclays upped their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.83.

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.