Sompo Asset Management Co. Ltd. lessened its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,834 shares of the pharmacy operator's stock after selling 6,689 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in CVS Health were worth $5,738,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Dodge & Cox lifted its position in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Capital World Investors lifted its holdings in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after buying an additional 689,867 shares during the period. Capital International Investors grew its holdings in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its stake in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CVS. UBS Group dropped their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Robert W. Baird increased their price objective on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Finally, Leerink Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $71.83.
Get Our Latest Stock Analysis on CVS Health
Insiders Place Their Bets
In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm's 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 transaction, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following 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 position. The disclosure for this sale can be found here. Insiders own 1.22% of the company's stock.
CVS Health Stock Performance
CVS Health stock opened at $65.40 on Wednesday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.45. 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 stock has a fifty day moving average price of $66.48 and a two-hundred day moving average price of $58.77. The firm has a market capitalization of $82.46 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.98 and a beta of 0.57.
CVS Health (NYSE:CVS - Get Free Report) last released 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 net margin of 1.24% and a return on equity of 9.11%. As a group, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.
CVS Health Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.07%. CVS Health's dividend payout ratio is 72.68%.
CVS Health Profile
(
Free Report)
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.
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