CVS Health Co. (NYSE:CVS) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in shares of CVS Health Co. (NYSE:CVS) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,997,455 shares of the pharmacy operator’s stock after selling 213,570 shares during the quarter. Primecap Management Co. CA’s holdings in CVS Health were worth $134,556,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Davis Selected Advisers increased its holdings in 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 buying an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC grew its position 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 acquiring an additional 6,475,271 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. Raymond James Financial Inc. acquired a new stake in CVS Health in the fourth quarter valued at approximately $116,033,000. Finally, ARGA Investment Management LP increased its position in shares of CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after buying an additional 2,371,563 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS Health stock opened at $67.49 on Wednesday. The stock has a market cap of $85.09 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $59.32 and a 200-day simple moving average of $57.12. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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 expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares in the company, valued at $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. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research analyst reports. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Evercore ISI upped their price target 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. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

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.