Sector Gamma AS Lowers Holdings in CVS Health Co. (NYSE:CVS)

Sector Gamma AS trimmed its stake in CVS Health Co. (NYSE:CVS - Free Report) by 28.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,000 shares of the pharmacy operator's stock after selling 85,000 shares during the quarter. CVS Health accounts for 3.3% of Sector Gamma AS's portfolio, making the stock its 13th largest position. Sector Gamma AS's holdings in CVS Health were worth $9,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of CVS Health by 3.6% in 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. Geode Capital Management LLC raised its stake in shares of 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 worth $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised 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 valued at $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction on 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 directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.

CVS Health Stock Down 1.5 %

CVS Health stock traded down $1.03 during mid-day trading on Tuesday, reaching $66.54. The stock had a trading volume of 7,536,589 shares, compared to its average volume of 11,112,163. The stock's 50-day simple moving average is $61.22 and its 200-day simple moving average is $57.46. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. 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 firm has a market capitalization of $83.89 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, sell-side analysts forecast 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 given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.00%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. 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. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday. Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Argus set a $77.00 target price on CVS Health in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.39.

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.