Korea Investment CORP Has $29.37 Million Stock Position in CVS Health Co. (NYSE:CVS)

Korea Investment CORP trimmed its position in CVS Health Co. (NYSE:CVS - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 654,203 shares of the pharmacy operator's stock after selling 119,390 shares during the quarter. Korea Investment CORP owned approximately 0.05% of CVS Health worth $29,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the third quarter worth about $31,000. Ridgewood Investments LLC lifted its holdings in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the fourth quarter valued at $29,000. Finally, Financial Perspectives Inc lifted its position in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have commented on CVS. StockNews.com raised CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Evercore ISI lifted their target price on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Wells Fargo & Company raised their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.39.

CVS Health Stock Performance

CVS stock traded down $0.01 on Wednesday, reaching $67.98. 1,766,530 shares of the company were exchanged, compared to its average volume of 10,889,517. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $75.27. The stock's fifty day moving average price is $62.72 and its 200 day moving average price is $57.83. The firm has a market capitalization of $85.70 billion, a PE ratio of 18.57, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. On average, research analysts anticipate that CVS Health Co. will post 5.89 EPS 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 issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 72.68%.

About CVS Health

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.