Te Ahumairangi Investment Management Ltd Has $4.12 Million Stock Position in CVS Health Co. (NYSE:CVS)

Te Ahumairangi Investment Management Ltd reduced its holdings in CVS Health Co. (NYSE:CVS) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,862 shares of the pharmacy operator’s stock after selling 27,110 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in CVS Health were worth $4,124,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp raised its position 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 worth $3,554,475,000 after purchasing an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 during the last quarter. Pzena Investment Management LLC lifted its position in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the period. Norges Bank bought a new position in CVS Health in the fourth quarter valued at approximately $839,574,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of CVS Health by 5.8% during 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 purchasing an additional 710,281 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVS shares. Edward Jones raised 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 report on Wednesday, February 12th. Wolfe Research lifted their price target on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Evercore ISI increased their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company boosted their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Stock Up 0.2 %

Shares of CVS Health stock opened at $67.88 on Wednesday. The company has a 50-day simple moving average of $62.72 and a two-hundred day simple moving average of $57.83. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $75.27. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market capitalization of $85.59 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is 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.