CVS Health Co. (NYSE:CVS) Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 49.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,610,579 shares of the pharmacy operator's stock after acquiring an additional 6,475,271 shares during the period. CVS Health accounts for about 3.0% of Pzena Investment Management LLC's portfolio, making the stock its 11th biggest holding. Pzena Investment Management LLC owned approximately 1.56% of CVS Health worth $880,319,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Widmann Financial Services Inc. boosted its stake in shares of CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock worth $724,000 after acquiring an additional 200 shares during the period. EagleClaw Capital Managment LLC lifted its position in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after buying an additional 200 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of CVS Health by 4.8% in the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after buying an additional 204 shares in the last quarter. Rogco LP lifted its position in shares of CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after buying an additional 210 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of CVS Health by 3.8% in the fourth quarter. Lindbrook Capital LLC now owns 6,772 shares of the pharmacy operator's stock worth $304,000 after buying an additional 248 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

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CVS Health Stock Up 0.5 %

NYSE CVS traded up $0.30 during midday trading on Wednesday, hitting $65.28. 3,601,784 shares of the company traded hands, compared to its average volume of 11,606,238. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The company has a market cap of $82.31 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company's 50-day simple moving average is $57.24 and its 200-day simple moving average is $56.83. 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 issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared 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. This represents a $2.66 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health's dividend payout ratio is presently 72.68%.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at $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 is available through this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Barclays upped their price objective on CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Truist Financial increased their price target on CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.83.

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.