American Assets Investment Management LLC Has $2.69 Million Stake in CVS Health Co. (NYSE:CVS)

American Assets Investment Management LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 25.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the pharmacy operator’s stock after selling 20,000 shares during the period. American Assets Investment Management LLC’s holdings in CVS Health were worth $2,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kennondale Capital Management LLC bought a new stake in CVS Health in the fourth quarter valued at $888,000. Mystic Asset Management Inc. increased its stake in CVS Health by 86.5% in the fourth quarter. Mystic Asset Management Inc. now owns 31,945 shares of the pharmacy operator’s stock valued at $1,434,000 after purchasing an additional 14,820 shares in the last quarter. RD Lewis Holdings Inc. bought a new stake in CVS Health in the fourth quarter valued at $244,000. Cozad Asset Management Inc. increased its stake in CVS Health by 3.7% in the fourth quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator’s stock valued at $293,000 after purchasing an additional 233 shares in the last quarter. Finally, Cibc World Markets Corp increased its stake in CVS Health by 16.4% in the fourth quarter. Cibc World Markets Corp now owns 198,542 shares of the pharmacy operator’s stock valued at $8,913,000 after purchasing an additional 27,985 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred 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 directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Stock Up 1.5 %

CVS opened at $66.65 on Tuesday. The stock has a market cap of $84.03 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $58.89 and its two-hundred day moving average price is $57.05. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is currently 72.68%.

Analysts Set New Price Targets

CVS has been the subject of several recent research reports. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. UBS Group decreased their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Barclays boosted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four 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, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $69.83.

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.