Federated Hermes Inc. trimmed its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,102,314 shares of the pharmacy operator's stock after selling 98,664 shares during the period. Federated Hermes Inc. owned approximately 0.09% of CVS Health worth $87,039,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its stake in CVS Health by 103,371.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator's stock valued at $1,448,877,000 after purchasing an additional 15,532,533 shares in the last quarter. Norges Bank purchased a new position in CVS Health in the fourth quarter valued at about $1,425,416,000. FMR LLC grew its stake in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator's stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. Morgan Stanley grew its stake in CVS Health by 10.9% in the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator's stock valued at $3,128,984,000 after purchasing an additional 3,311,928 shares in the last quarter. Finally, Barclays PLC grew its stake in CVS Health by 97.8% in the second quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator's stock valued at $379,052,000 after purchasing an additional 2,711,102 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at CVS Health
In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company's stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
CVS has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 price target for the company. Piper Sandler upped their price target on CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, March 15th. HSBC started coverage on CVS Health in a research note on Friday, December 22nd. They set a "buy" rating and a $94.00 target price for the company. Finally, Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.44.
Check Out Our Latest Analysis on CVS Health
CVS Health Stock Performance
CVS Health stock traded up $1.02 during trading hours on Friday, hitting $69.75. The stock had a trading volume of 7,771,294 shares, compared to its average volume of 10,854,582. The company has a 50-day moving average of $75.29 and a two-hundred day moving average of $73.70. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The company has a market cap of $87.92 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25.
CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to analysts' expectations of $90.58 billion. During the same quarter in the prior year, the firm posted $1.99 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that CVS Health Co. will post 8.32 EPS for the current fiscal year.
CVS Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.81%. CVS Health's payout ratio is presently 41.18%.
CVS Health Company Profile
(Free Report)
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.
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