Fmr LLC Reduces Position in CVS Health Co. (NYSE:CVS)

FMR LLC cut its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,133,050 shares of the pharmacy operator's stock after selling 193,991 shares during the period. FMR LLC owned 2.24% of CVS Health worth $1,262,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVS. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in CVS Health during the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the third quarter worth $31,000. Finally, Financial Perspectives Inc raised its position in shares of CVS Health by 137.5% during 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 period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity

In other news, Director Michael F. Mahoney bought 30,000 shares of CVS Health 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 completion of the acquisition, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction 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. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. UBS Group decreased their price target on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Wolfe Research lifted their target price on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Truist Financial upped their price target on CVS Health from $76.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.28.

CVS Health Stock Up 0.9 %

Shares of CVS stock traded up $0.59 during mid-day trading on Friday, hitting $69.56. The stock had a trading volume of 12,536,878 shares, compared to its average volume of 11,750,465. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $71.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm's 50-day moving average is $65.10 and its two-hundred day moving average is $58.51. The firm has a market capitalization of $87.70 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) 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%. On average, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business 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. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.82%. 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.