PNC Financial Services Group Inc. Sells 144,567 Shares of CVS Health Co. (NYSE:CVS)

PNC Financial Services Group Inc. lessened its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 600,061 shares of the pharmacy operator's stock after selling 144,567 shares during the quarter. PNC Financial Services Group Inc.'s holdings in CVS Health were worth $26,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC boosted its position in CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC grew its stake in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CVS Health by 5.8% in 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 buying an additional 710,281 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of 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. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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CVS Health Trading Down 0.2 %

CVS stock traded down $0.16 during mid-day trading on Wednesday, reaching $64.82. 3,101,233 shares of the stock traded hands, compared to its average volume of 11,595,820. The stock's fifty day moving average is $57.24 and its 200-day moving average is $56.83. The company has a market cap of $81.73 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.98 and a beta of 0.53. 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 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last posted 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%. As a group, sell-side analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.10%. CVS Health's payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

CVS has been the topic of several analyst reports. Wolfe Research raised their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Cantor Fitzgerald raised CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. UBS Group lowered their price target on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Evercore ISI increased their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.83.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, 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. Company insiders own 0.24% 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.