Napatree Capital LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Napatree Capital LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,941 shares of the pharmacy operator’s stock after selling 1,556 shares during the quarter. Napatree Capital LLC’s holdings in CVS Health were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its stake in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC raised its position in shares of CVS Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after acquiring an additional 461,569 shares in the last quarter. Pzena Investment Management LLC raised 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 worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CVS Health by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock worth $579,932,000 after acquiring an additional 710,281 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of CVS Health by 34.8% during 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 acquiring an additional 3,071,613 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVS. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. UBS Group cut their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Argus set a $77.00 price target on CVS Health in a research report on Tuesday, February 18th. Piper Sandler lifted their target price on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Stock Performance

Shares of NYSE CVS opened at $67.22 on Friday. The company has a market cap of $84.75 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. 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 company has a 50-day simple moving average of $60.60 and a 200-day simple moving average of $57.35.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. On average, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business 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 $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. CVS Health’s payout ratio is 72.68%.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of 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. 0.24% of the stock is owned by insiders.

CVS Health Company 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.