Commerce Bank Has $1.82 Million Position in CVS Health Co. (NYSE:CVS)

Commerce Bank reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,594 shares of the pharmacy operator's stock after selling 24,708 shares during the quarter. Commerce Bank's holdings in CVS Health were worth $1,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at about $839,574,000. Davis Selected Advisers grew its holdings in CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after buying an additional 11,018,438 shares during the last quarter. Dodge & Cox increased its position in CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of CVS Health by 30.1% in the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock valued at $809,730,000 after acquiring an additional 4,173,243 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Price Performance

Shares of CVS traded down $0.62 during mid-day trading on Friday, hitting $65.30. 5,020,541 shares of the company traded hands, compared to its average volume of 11,808,422. 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 business has a 50-day moving average of $66.49 and a 200 day moving average of $58.87. CVS Health Co. has a one year low of $43.56 and a one year high of $71.45. The stock has a market capitalization of $82.33 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.98 and a beta of 0.57.

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

CVS Health Announces Dividend

The firm also recently announced 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 dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

Insider Transactions at CVS Health

In other CVS Health 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 transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Robert W. Baird lifted their target price on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, Barclays lifted their price target 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 investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.