CVS Health Co. (NYSE:CVS) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,936 shares of the pharmacy operator's stock after selling 4,562 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in CVS Health were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp lifted its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC raised its position in CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its position in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after purchasing an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after purchasing an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after buying an additional 3,071,613 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the topic of several analyst reports. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Finally, Edward Jones raised CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

CVS Health Trading Up 1.1 %

Shares of CVS traded up $0.68 during mid-day trading on Thursday, hitting $64.54. The company had a trading volume of 8,275,092 shares, compared to its average volume of 12,605,323. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business's 50-day simple moving average is $53.48 and its 200-day simple moving average is $56.34. The stock has a market cap of $81.37 billion, a PE ratio of 17.63, a P/E/G ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Thursday, January 23rd. CVS Health's payout ratio is currently 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.