AIA Group Ltd Cuts Stock Position in CVS Health Co. (NYSE:CVS)

AIA Group Ltd trimmed its position in CVS Health Co. (NYSE:CVS - Free Report) by 24.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,137 shares of the pharmacy operator's stock after selling 9,053 shares during the period. AIA Group Ltd's holdings in CVS Health were worth $1,263,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVS. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% during the fourth 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 period. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health during the fourth quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter valued at $31,000. Finally, Financial Perspectives Inc increased its position in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Wolfe Research boosted their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price objective 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 investment 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.39.

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Insiders Place Their Bets

In related news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, 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 SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company's stock.

CVS Health Stock Performance

CVS stock traded down $0.63 during midday trading on Thursday, reaching $67.44. 12,201,081 shares of the company's stock traded hands, compared to its average volume of 11,527,095. The firm has a market capitalization of $85.03 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a 50-day moving average price of $63.02 and a two-hundred day moving average price of $57.91. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $75.27. 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 data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 3.94%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 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.