CVS Health Co. (NYSE:CVS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,133 shares of the pharmacy operator's stock after selling 4,115 shares during the period. Wellington Management Group LLP's holdings in CVS Health were worth $9,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Partners in Financial Planning purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $265,000. Clearbridge Investments LLC raised its position in shares of CVS Health by 74.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,397,121 shares of the pharmacy operator's stock valued at $197,387,000 after buying an additional 1,872,144 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in CVS Health by 29.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 2,848,986 shares of the pharmacy operator's stock worth $127,891,000 after acquiring an additional 650,832 shares during the last quarter. Allianz SE purchased a new stake in CVS Health during the 4th quarter valued at about $3,648,000. Finally, Allstate Corp acquired a new stake in CVS Health in the 4th quarter valued at about $1,680,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Up 0.4 %

CVS stock traded up $0.28 during midday trading on Tuesday, hitting $69.48. The company's stock had a trading volume of 1,608,867 shares, compared to its average volume of 11,728,173. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.66. The firm has a 50-day simple moving average of $65.37 and a 200-day simple moving average of $58.58. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $87.60 billion, a P/E ratio of 18.97, a PEG ratio of 0.98 and a beta of 0.57.

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CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 9.11% and a net margin of 1.24%. As a group, equities 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 will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 72.68%.

Wall Street Analyst Weigh In

CVS has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Finally, Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.83.

Insider Activity

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price 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. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company 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.