Heritage Investors Management Corp Sells 11,999 Shares of CVS Health Co. (NYSE:CVS)

Heritage Investors Management Corp reduced its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 45.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,162 shares of the pharmacy operator's stock after selling 11,999 shares during the period. Heritage Investors Management Corp's holdings in CVS Health were worth $636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. National Pension Service raised its holdings in shares of CVS Health by 4.8% in the 4th quarter. National Pension Service now owns 2,979,289 shares of the pharmacy operator's stock valued at $133,740,000 after acquiring an additional 135,887 shares in the last quarter. Prasad Wealth Partners LLC purchased a new stake in CVS Health in the fourth quarter valued at approximately $306,000. Crestwood Advisors Group LLC lifted its position in CVS Health by 2.2% during the fourth quarter. Crestwood Advisors Group LLC now owns 19,380 shares of the pharmacy operator's stock valued at $870,000 after purchasing an additional 408 shares during the last quarter. IFP Advisors Inc grew its stake in CVS Health by 91.3% in the 4th quarter. IFP Advisors Inc now owns 21,413 shares of the pharmacy operator's stock worth $961,000 after buying an additional 10,222 shares in the last quarter. Finally, B&D White Capital Company LLC bought a new position in shares of CVS Health in the 4th quarter worth $417,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Down 1.4 %

Shares of CVS stock traded down $0.90 during trading hours on Monday, hitting $64.82. 7,067,228 shares of the company's stock traded hands, compared to its average volume of 12,412,299. 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 stock has a market cap of $81.72 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.98 and a beta of 0.61. The stock's fifty day simple moving average is $54.33 and its two-hundred day simple moving average is $56.47. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

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, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is currently 72.68%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. JPMorgan Chase & Co. increased their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. TD Cowen boosted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, UBS Group reduced their target price on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Four 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $69.83.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost 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. This represents a 320.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by 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.