CVS Health Co. (NYSE:CVS) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,615,894 shares of the pharmacy operator's stock after selling 370,311 shares during the quarter. Hsbc Holdings PLC owned approximately 0.21% of CVS Health worth $117,029,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Capital World Investors raised its holdings in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Geode Capital Management LLC grew its holdings in shares of CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after purchasing an additional 689,867 shares during the period. Capital International Investors increased its position in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings 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 purchasing an additional 6,475,271 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 0.4 %

CVS opened at $65.40 on Wednesday. The business's 50-day simple moving average is $66.48 and its 200-day simple moving average is $58.77. The company has a market cap of $82.46 billion, a P/E ratio of 17.87, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a one year low of $43.56 and a one year high of $71.45. 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 issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. 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 4.07%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

A number of research firms recently commented on CVS. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. UBS Group decreased 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 report on Tuesday, February 11th. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued 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.

Insider Activity at CVS Health

In other news, 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is owned by insiders.

CVS Health Company 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.

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