Envestnet Asset Management Inc. Acquires 15,561 Shares of CVS Health Co. (NYSE:CVS)

Envestnet Asset Management Inc. lifted its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,529,714 shares of the pharmacy operator's stock after purchasing an additional 15,561 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of CVS Health worth $68,669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviva PLC raised its holdings in CVS Health by 154.9% during the fourth quarter. Aviva PLC now owns 681,209 shares of the pharmacy operator's stock valued at $30,579,000 after buying an additional 414,008 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in CVS Health during the fourth quarter worth $1,111,000. Rhenman & Partners Asset Management AB increased its stake in CVS Health by 45.4% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 267,500 shares of the pharmacy operator's stock valued at $12,008,000 after acquiring an additional 83,500 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $19,185,000. Finally, Integrated Quantitative Investments LLC acquired a new position in CVS Health during the fourth quarter worth $426,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the company's 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 completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company's stock, 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. 0.24% of the stock is owned by company insiders.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.13 during trading on Tuesday, reaching $69.33. The company had a trading volume of 1,770,839 shares, compared to its average volume of 11,728,816. The company has a fifty day moving average of $65.37 and a two-hundred day moving average of $58.58. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $71.66. 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 stock has a market capitalization of $87.41 billion, a P/E ratio of 18.94, 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 for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current 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 paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is 72.68%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVS. Barclays lifted their price target on CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Robert W. Baird increased their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Finally, Evercore ISI boosted 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. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average price target of $71.83.

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.