IHT Wealth Management LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

IHT Wealth Management LLC trimmed its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 74.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,745 shares of the pharmacy operator's stock after selling 37,704 shares during the quarter. IHT Wealth Management LLC's holdings in CVS Health were worth $572,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CVS. Norges Bank purchased a new stake in CVS Health in the 4th quarter worth approximately $839,574,000. Capital World Investors grew its holdings in CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Davis Selected Advisers lifted its holdings in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Dodge & Cox grew its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after acquiring an additional 6,475,271 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

In other 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 transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on 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 purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVS shares. Argus set a $77.00 price objective on CVS Health in a research report on Tuesday, February 18th. Evercore ISI increased their target price on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.83.

CVS Health Stock Up 0.1 %

Shares of NYSE:CVS traded up $0.07 on Tuesday, reaching $65.00. The company had a trading volume of 9,300,849 shares, compared to its average volume of 11,815,135. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $81.95 billion, a PE ratio of 17.76, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.45. The firm's 50 day simple moving average is $66.45 and its 200-day simple moving average is $58.75.

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

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.09%. CVS Health's payout ratio is 72.68%.

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.