Franklin Resources Inc. Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Franklin Resources Inc. lessened its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,726,578 shares of the pharmacy operator's stock after selling 2,217,784 shares during the quarter. Franklin Resources Inc. owned about 0.85% of CVS Health worth $481,516,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC lifted its stake in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in CVS Health during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Finally, Financial Perspectives Inc boosted 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 worth $36,000 after purchasing an additional 466 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 5.9 %

CVS traded down $3.97 on Friday, reaching $63.54. The company's stock had a trading volume of 13,291,234 shares, compared to its average volume of 11,586,970. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $74.85. The stock has a 50 day moving average of $63.47 and a two-hundred day moving average of $58.01. The company has a market capitalization of $80.11 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.57.

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CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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 given a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.19%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVS. Wells Fargo & Company upped their price target on CVS Health from $68.00 to $73.00 and gave the stock 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 report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Evercore ISI raised their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, UBS Group cut their target price on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.39.

Insider Buying and Selling

In related news, Director Michael F. Mahoney purchased 30,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was 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 CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value 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. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

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.