Somerville Kurt F Has $525,000 Stock Position in CVS Health Co. (NYSE:CVS)

Somerville Kurt F cut its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 50.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,688 shares of the pharmacy operator's stock after selling 11,900 shares during the quarter. Somerville Kurt F's holdings in CVS Health were worth $525,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Street Corp grew its stake in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after buying an additional 689,867 shares in the last quarter. Pzena Investment Management LLC increased its holdings in CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Norges Bank acquired a new stake in CVS Health in the fourth quarter valued at approximately $839,574,000. Finally, Charles Schwab Investment Management Inc. grew 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 acquiring an additional 710,281 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Barclays lifted their price target on shares of CVS Health from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Wolfe Research raised their target price 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. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average price target of $70.94.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.82 during midday trading on Wednesday, reaching $68.45. 6,525,457 shares of the company traded hands, compared to its average volume of 11,646,265. The stock's 50-day simple moving average is $64.03 and its 200-day simple moving average is $58.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $74.85. The firm has a market cap of $86.30 billion, a PE ratio of 18.73, a PEG ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued 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, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 yield of 3.89%. CVS Health's dividend payout ratio (DPR) is 72.68%.

Insiders Place Their Bets

In related 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 value 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 $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction 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 acquisition, the director now owns 39,356 shares in the company, valued at approximately $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.

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.