Gabelli Funds LLC Has $19.55 Million Stock Position in CVS Health Co. (NYSE:CVS)

Gabelli Funds LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,500 shares of the pharmacy operator's stock after selling 26,050 shares during the quarter. Gabelli Funds LLC's holdings in CVS Health were worth $19,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC boosted 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 worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in CVS Health during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new stake in CVS Health in the fourth quarter valued at $29,000. Financial Perspectives Inc raised its stake 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 valued at $36,000 after acquiring an additional 466 shares during the period. Finally, Compass Planning Associates Inc purchased a new position in shares of CVS Health during the fourth quarter worth $37,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 2.0 %

CVS Health stock traded down $1.37 during trading hours on Friday, hitting $67.19. The company had a trading volume of 16,054,208 shares, compared to its average volume of 11,811,363. 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 fifty-two week low of $43.56 and a fifty-two week high of $71.45. The firm's fifty day moving average is $66.46 and its 200-day moving average is $58.79. The firm has a market capitalization of $84.71 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping 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, research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm 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 $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVS shares. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a report on Tuesday. Barclays upped their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Wolfe Research lifted their target price on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and an average price target of $71.83.

Insider Buying and Selling

In related news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 of the company's stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

CVS Health 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.