CVS Health Co. (NYSE:CVS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in CVS Health Co. (NYSE:CVS - Free Report) by 98.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,537 shares of the pharmacy operator's stock after selling 487,127 shares during the period. Federated Hermes Inc.'s holdings in CVS Health were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after acquiring an additional 689,867 shares during the period. Pzena Investment Management LLC lifted its stake in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares in the last quarter. Norges Bank acquired a new stake in CVS Health in the 4th quarter worth about $839,574,000. Charles Schwab Investment Management Inc. increased its stake in CVS Health by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock worth $579,932,000 after buying an additional 710,281 shares in the last quarter. Finally, Davis Selected Advisers lifted its position in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after acquiring an additional 11,018,438 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity

In related news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the company'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 value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.22% of the company's stock.

CVS Health Trading Up 1.2 %

CVS Health stock traded up $0.76 during midday trading on Wednesday, reaching $66.21. 1,713,418 shares of the stock traded hands, compared to its average volume of 11,258,857. 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 firm has a market cap of $83.48 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a 50-day simple moving average of $66.48 and a two-hundred day simple moving average of $58.77. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $71.45.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results 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%. Research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is 72.68%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Robert W. Baird increased their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. Piper Sandler boosted their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Mizuho raised their target price on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and a consensus target price 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.