OneDigital Investment Advisors LLC Trims Stake in CVS Health Co. (NYSE:CVS)

OneDigital Investment Advisors LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,492 shares of the pharmacy operator's stock after selling 176,253 shares during the quarter. OneDigital Investment Advisors LLC's holdings in CVS Health were worth $17,933,000 as of its most recent SEC filing.

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

CVS Health Stock Up 0.2 %

Shares of NYSE:CVS traded up $0.13 during trading on Wednesday, hitting $65.58. The company's stock had a trading volume of 10,832,978 shares, compared to its average volume of 11,842,121. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $71.45. The business has a 50 day moving average price of $66.48 and a two-hundred day moving average price of $58.82. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market capitalization of $82.68 billion, a PE ratio of 17.92, a P/E/G ratio of 0.98 and a beta of 0.57.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued 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 4.06%. CVS Health's payout ratio is 72.68%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVS. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Evercore ISI increased their price objective on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, Leerink Partners upgraded 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 research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $71.83.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 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, with a total value of $2,001,000.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company's stock.

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.