Davis Selected Advisers Acquires 11,018,438 Shares of CVS Health Co. (NYSE:CVS)

Davis Selected Advisers boosted its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 2,998.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,385,950 shares of the pharmacy operator's stock after buying an additional 11,018,438 shares during the quarter. CVS Health makes up about 3.0% of Davis Selected Advisers' holdings, making the stock its 13th largest position. Davis Selected Advisers owned 0.90% of CVS Health worth $511,115,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health in the third quarter valued at $25,000. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health in the fourth quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the third quarter valued at $31,000. Finally, Financial Perspectives Inc boosted its stake in CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 directly owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

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CVS Health Trading Up 1.7 %

CVS stock traded up $1.09 during midday trading on Friday, hitting $66.34. The stock had a trading volume of 10,082,148 shares, compared to its average volume of 11,965,158. The firm has a market cap of $83.64 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 12-month low of $43.56 and a 12-month high of $80.75. The company's 50-day moving average price is $56.42 and its 200 day moving average price is $56.73.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, equities research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health's dividend payout ratio is presently 72.68%.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Finally, Truist Financial increased their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a "buy" 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.83.

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.