FIL Ltd Buys 7,143 Shares of CVS Health Co. (NYSE:CVS)

FIL Ltd boosted its position in CVS Health Co. (NYSE:CVS - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,616 shares of the pharmacy operator's stock after buying an additional 7,143 shares during the quarter. FIL Ltd's holdings in CVS Health were worth $6,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% during the fourth 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 stake in shares of CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the 4th quarter worth approximately $29,000. Financial Perspectives Inc grew its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after buying an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. raised its holdings in CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after acquiring an additional 437 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVS shares. Truist Financial lifted their price target on CVS Health from $76.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Barclays upped their price target on CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Finally, Argus set a $77.00 price target on shares of CVS Health in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $71.83.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the stock in a transaction dated 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 represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

CVS Health Trading Down 2.0 %

Shares of CVS traded down $1.37 during mid-day trading on Friday, reaching $67.19. The company's stock had a trading volume of 16,054,208 shares, compared to its average volume of 11,804,494. 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 company's fifty day moving average price is $66.22 and its two-hundred day moving average price is $58.76. The stock has a market cap of $84.71 billion, a PE ratio of 18.36, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly 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%. On average, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health's payout ratio is currently 72.68%.

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.