Steward Partners Investment Advisory LLC Sells 28,720 Shares of CVS Health Co. (NYSE:CVS)

Steward Partners Investment Advisory LLC cut its position in CVS Health Co. (NYSE:CVS - Free Report) by 31.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,105 shares of the pharmacy operator's stock after selling 28,720 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in CVS Health were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CVS. State Street Corp grew its stake in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC increased its stake in CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock worth $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC boosted its stake in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after purchasing an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock worth $767,681,000 after buying an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

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Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, November 15th. Wolfe Research increased their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Evercore ISI lifted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.83.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business'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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired 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 directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock traded up $0.09 on Monday, reaching $66.42. The stock had a trading volume of 617,756 shares, compared to its average volume of 11,707,236. The stock has a market cap of $83.75 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a 50 day simple moving average of $56.42 and a 200 day simple moving average of $56.73.

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 net margin of 1.24% and a return on equity of 9.11%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.00%. CVS Health's dividend payout ratio is currently 72.68%.

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.