CVS Health Co. (NYSE:CVS) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 66.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,644 shares of the pharmacy operator's stock after selling 23,585 shares during the quarter. Twin Capital Management Inc.'s holdings in CVS Health were worth $523,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of 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 last quarter. Pzena Investment Management LLC boosted 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 worth $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. Norges Bank acquired a new position in CVS Health during the 4th quarter valued at approximately $839,574,000. Invesco Ltd. raised its holdings in shares of CVS Health by 30.1% in the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock worth $809,730,000 after buying an additional 4,173,243 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of CVS Health by 5.8% during the fourth 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 during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

NYSE CVS traded up $0.59 during trading hours on Friday, reaching $69.56. The company's stock had a trading volume of 12,536,878 shares, compared to its average volume of 11,766,703. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $71.66. The company'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 price-to-earnings ratio of 19.01, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its 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%. On average, equities analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.82%. CVS Health's dividend payout ratio is currently 72.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVS shares. Evercore ISI raised their target price on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Truist Financial lifted their target price on CVS Health from $76.00 to $82.00 and gave the stock a "buy" rating in a report on Friday. Barclays increased their price target on shares of CVS Health from $71.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Wolfe Research lifted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Four equities 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.28.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the 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 transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was 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 currently owned by corporate 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.