CVS Health Co. (NYSE:CVS) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 805,514 shares of the pharmacy operator’s stock after selling 170,155 shares during the quarter. American Century Companies Inc.’s holdings in CVS Health were worth $36,160,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its position in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 valued at $1,651,997,000 after acquiring an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of CVS Health by 49.3% in 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 purchasing an additional 6,475,271 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CVS Health by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock valued at $579,932,000 after purchasing an additional 710,281 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of CVS Health by 34.8% during the third 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. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Trading Up 0.6 %

Shares of CVS opened at $67.59 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year 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 firm has a 50 day simple moving average of $61.83 and a 200-day simple moving average of $57.60. The stock has a market cap of $85.22 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Analyst Ratings Changes

Several brokerages have issued reports on CVS. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler increased their target price on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Truist Financial lifted their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four equities research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.39.

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.