OVERSEA CHINESE BANKING Corp Ltd Cuts Stake in CVS Health Co. (NYSE:CVS)

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,222 shares of the pharmacy operator’s stock after selling 3,848 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CVS Health were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CVS. Bryn Mawr Capital Management LLC raised its stake in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after buying an additional 18,385 shares in the last quarter. Value Partners Investments Inc. lifted its stake in shares of CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC boosted its position in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after purchasing an additional 774 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in CVS Health by 2.3% in the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in CVS Health by 2.6% in the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after purchasing an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. SVB Leerink started coverage on shares of CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Royal Bank of Canada cut their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Wells Fargo & Company reduced their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Stock Up 0.5 %

Shares of CVS stock opened at $69.75 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The stock has a 50 day moving average of $75.29 and a 200 day moving average of $73.77. The stock has a market cap of $87.92 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. During the same period in the previous year, the business posted $1.99 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.81%. CVS Health’s dividend payout ratio is presently 41.18%.

Insider Buying and Selling

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

About CVS Health

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.