Rockefeller Capital Management L.P. Sells 179,651 Shares of CVS Health Co. (NYSE:CVS)

Rockefeller Capital Management L.P. cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 424,381 shares of the pharmacy operator's stock after selling 179,651 shares during the period. Rockefeller Capital Management L.P.'s holdings in CVS Health were worth $19,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Ridgewood Investments LLC increased its holdings in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health during the 4th quarter worth about $29,000. Financial Perspectives Inc raised its stake in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. increased its holdings in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Down 2.0 %

NYSE:CVS traded down $1.37 on Friday, hitting $67.19. 16,054,208 shares of the company's stock were exchanged, compared to its average volume of 11,804,494. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $71.45. The company has a market cap of $84.71 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. 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 firm has a 50-day moving average price of $66.22 and a 200-day moving average price of $58.76.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 72.68%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price 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 in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of CVS Health 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 completion of the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Wolfe Research increased their price target on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $71.83.

CVS Health 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.