CVS Health Co. (NYSE:CVS) Stock Position Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 435,871 shares of the pharmacy operator's stock after selling 12,452 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in CVS Health were worth $19,566,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CVS. Hotchkis & Wiley Capital Management LLC boosted its position in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP boosted its position in CVS Health by 7,567.7% during the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator's stock worth $107,866,000 after acquiring an additional 2,371,563 shares during the last quarter. State Street Corp boosted its position in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in CVS Health during the third quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC raised its stake in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now 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 filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company's stock.

CVS Health Stock Up 2.1 %

CVS Health stock traded up $1.37 during midday trading on Friday, hitting $65.85. 10,474,843 shares of the stock were exchanged, compared to its average volume of 12,550,715. The firm has a market cap of $83.02 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.61. 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 1 year low of $43.56 and a 1 year high of $80.75. The company has a 50 day moving average price of $54.33 and a two-hundred day moving average price of $56.47.

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 for the quarter, topping 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%. On average, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Analyst Ratings Changes

A number of research firms have weighed in on CVS. Evercore ISI increased their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Wolfe Research increased their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Truist Financial increased their price target on shares of CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, UBS Group cut their target price on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned 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 an average price target of $69.83.

CVS Health Company 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.