CVS Health Co. (NYSE:CVS) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,038,089 shares of the pharmacy operator's stock after purchasing an additional 4,173,243 shares during the period. Invesco Ltd. owned approximately 1.43% of CVS Health worth $809,730,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CVS. Geode Capital Management LLC boosted its position in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after buying an additional 689,867 shares during the last quarter. Pzena Investment Management LLC lifted its stake in CVS Health by 49.3% during 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 period. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter worth $839,574,000. Charles Schwab Investment Management Inc. raised its holdings in shares of CVS Health by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock worth $579,932,000 after purchasing an additional 710,281 shares during the last quarter. Finally, Davis Selected Advisers lifted its position in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Price Performance

CVS traded up $0.59 on Friday, hitting $69.56. 12,536,878 shares of the company's stock were exchanged, compared to its average volume of 11,766,703. The firm has a 50-day moving average price of $65.10 and a 200-day moving average price of $58.51. The stock has a market cap of $87.70 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 0.98 and a beta of 0.57. 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 fifty-two week low of $43.56 and a fifty-two week high of $71.66.

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%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 72.68%.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was 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 trade represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Truist Financial lifted their price objective on CVS Health from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Friday. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Barclays lifted 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. Finally, Wells Fargo & Company raised their price target on shares of CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Four research 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 company's stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $71.28.

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.