Nan Shan Life Insurance Co. Ltd. Lowers Holdings in CVS Health Co. (NYSE:CVS)

Nan Shan Life Insurance Co. Ltd. lessened its holdings in CVS Health Co. (NYSE:CVS) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 441,757 shares of the pharmacy operator’s stock after selling 21,740 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in CVS Health were worth $19,830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. purchased a new position in CVS Health during the 4th quarter valued at about $29,000. Financial Perspectives Inc increased its stake in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. MidAtlantic Capital Management Inc. lifted its position in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after purchasing an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 6.7%

CVS opened at $60.50 on Wednesday. The stock has a market capitalization of $76.53 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The business’s 50-day simple moving average is $66.84 and its 200-day simple moving average is $59.15.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same period in the previous year, the company posted $1.31 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.40%. CVS Health’s dividend payout ratio (DPR) is currently 63.48%.

Insider Transactions at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. StockNews.com upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays lifted their price objective on CVS Health from $73.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.94.

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.