Hudson Portfolio Management LLC Decreases Position in CVS Health Co. (NYSE:CVS)

Hudson Portfolio Management LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,648 shares of the pharmacy operator’s stock after selling 905 shares during the period. CVS Health accounts for approximately 1.2% of Hudson Portfolio Management LLC’s portfolio, making the stock its 29th largest holding. Hudson Portfolio Management LLC’s holdings in CVS Health were worth $1,241,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in CVS Health in the 4th quarter valued at about $839,574,000. Davis Selected Advisers raised its position in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Pzena Investment Management LLC lifted its stake in shares of 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 buying an additional 6,475,271 shares in the last quarter. Invesco Ltd. boosted its holdings in CVS Health by 30.1% in the 4th quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator’s stock worth $809,730,000 after buying an additional 4,173,243 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in CVS Health during the 4th quarter valued at $116,033,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $69.56 on Friday. The stock has a market capitalization of $87.70 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a fifty day moving average of $65.10 and a 200-day moving average of $58.51. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.66. 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 (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wolfe Research raised 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. Barclays upped their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler raised their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. 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 research note on Tuesday, February 18th. Finally, Wells Fargo & Company boosted their price target on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Four 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 stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $71.28.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company’s stock, 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. 0.24% of the stock is owned by insiders.

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.