Dimensional Fund Advisors LP Reduces Holdings in CVS Health Co. (NYSE:CVS)

Dimensional Fund Advisors LP reduced its position in CVS Health Co. (NYSE:CVS - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,651,543 shares of the pharmacy operator's stock after selling 349,633 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.69% of CVS Health worth $388,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of CVS. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the 4th quarter valued at about $29,000. Financial Perspectives Inc raised its position in shares of CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new position in shares of CVS Health in the 4th quarter worth about $37,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVS. UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Truist Financial upped their price objective on CVS Health from $76.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Piper Sandler lifted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.83.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now 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. Corporate insiders own 1.22% of the company's stock.

CVS Health Trading Up 0.2 %

CVS stock traded up $0.13 during mid-day trading on Wednesday, reaching $65.58. 10,832,978 shares of the stock traded hands, compared to its average volume of 11,842,121. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.45. The stock's fifty day moving average is $66.48 and its 200-day moving average is $58.77. The company has a market cap of $82.68 billion, a P/E ratio of 17.92, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.06%. CVS Health's payout ratio is 72.68%.

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.