CVS Health Co. (NYSE:CVS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,061,135 shares of the pharmacy operator's stock after selling 141,190 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of CVS Health worth $47,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after buying an additional 3,071,613 shares during the period. ARGA Investment Management LP grew its position in CVS Health by 7,567.7% during the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator's stock valued at $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. State Street Corp increased its stake in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP purchased a new stake in CVS Health in the 3rd quarter worth approximately $121,987,000. Finally, Mizuho Markets Americas LLC lifted its position in CVS Health by 1,470.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator's stock worth $87,810,000 after buying an additional 1,307,531 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney bought 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing 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 value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company 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. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. Finally, TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $69.83.

CVS Health Stock Down 1.0 %

CVS Health stock traded down $0.65 during trading hours on Monday, hitting $65.69. 3,710,867 shares of the stock traded hands, compared to its average volume of 11,778,841. The firm's 50-day moving average price is $56.42 and its two-hundred day moving average price is $56.73. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market cap of $82.82 billion, a PE ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

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, topping 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, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. CVS Health's payout ratio is currently 72.68%.

CVS Health Company 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.