CVS Health Co. (NYSE:CVS) Position Reduced by Fmr LLC

Fmr LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,133,050 shares of the pharmacy operator’s stock after selling 193,991 shares during the quarter. Fmr LLC owned approximately 2.24% of CVS Health worth $1,262,893,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Arete Wealth Advisors LLC acquired a new stake in shares of CVS Health in the third quarter worth $1,369,000. Morse Asset Management Inc bought a new stake in CVS Health during the 3rd quarter valued at approximately $409,000. Quantinno Capital Management LP increased its position in CVS Health by 67.2% in the 3rd quarter. Quantinno Capital Management LP now owns 64,489 shares of the pharmacy operator’s stock worth $4,055,000 after buying an additional 25,925 shares during the period. Wellington Management Group LLP grew its stake in shares of CVS Health by 6.2% in the third quarter. Wellington Management Group LLP now owns 224,248 shares of the pharmacy operator’s stock worth $14,101,000 after acquiring an additional 13,120 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in CVS Health by 44.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 7,866 shares of the pharmacy operator’s stock valued at $495,000 after purchasing an additional 2,417 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wolfe Research boosted their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Argus set a $77.00 price objective on CVS Health in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Price Performance

Shares of CVS opened at $63.54 on Monday. 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 firm has a market capitalization of $80.11 billion, a PE ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.57. The stock has a 50 day simple moving average of $63.47 and a 200 day simple moving average of $58.01. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $74.85.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is 72.68%.

Insider Activity 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 of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought 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 in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase 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.