Capital World Investors Grows Stake in CVS Health Corp (NYSE:CVS)

Capital World Investors boosted its position in shares of CVS Health Corp (NYSE:CVS) by 744.2% during the 4th quarter, HoldingsChannel reports. The firm owned 10,974,728 shares of the pharmacy operator’s stock after buying an additional 9,674,728 shares during the period. Capital World Investors’ holdings in CVS Health were worth $815,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Signet Financial Management LLC lifted its position in CVS Health by 8.4% during the 3rd quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock worth $363,000 after acquiring an additional 391 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of CVS Health in the 4th quarter worth approximately $4,290,000. Trilogy Capital Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth approximately $234,000. Bluefin Trading LLC acquired a new stake in shares of CVS Health in the 4th quarter worth approximately $3,720,000. Finally, Alta Capital Management LLC lifted its stake in shares of CVS Health by 8.0% in the 4th quarter. Alta Capital Management LLC now owns 539,522 shares of the pharmacy operator’s stock worth $40,081,000 after acquiring an additional 40,161 shares during the period. Institutional investors own 77.52% of the company’s stock.

NYSE CVS opened at $54.00 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 1.30. The company has a fifty day simple moving average of $64.55 and a 200 day simple moving average of $68.44. The company has a market cap of $70.88 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.18 and a beta of 0.97. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $77.03.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The business had revenue of $66.89 billion during the quarter, compared to the consensus estimate of $64.01 billion. CVS Health had a net margin of 2.58% and a return on equity of 14.87%. CVS Health’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 EPS. Equities research analysts forecast that CVS Health Corp will post 7.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Thursday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Wednesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

In other CVS Health news, COO Jonathan C. Roberts sold 57,563 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total value of $4,180,800.69. Following the completion of the sale, the chief operating officer now directly owns 102,608 shares of the company’s stock, valued at approximately $7,452,419.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Larry J. Merlo sold 266,476 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the completion of the sale, the chief executive officer now directly owns 703,497 shares of the company’s stock, valued at $52,614,540.63. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on CVS shares. Raymond James reaffirmed a “strong-buy” rating and issued a $90.00 price target (up from $80.00) on shares of CVS Health in a research note on Wednesday, December 4th. Cfra boosted their target price on shares of CVS Health from $85.00 to $86.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald boosted their target price on shares of CVS Health from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group boosted their target price on shares of CVS Health from $78.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Oppenheimer assumed coverage on shares of CVS Health in a research report on Wednesday, February 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $81.11.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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