Fisher Asset Management LLC Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Fisher Asset Management LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 1.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 68,380 shares of the pharmacy operator’s stock after selling 852 shares during the period. Fisher Asset Management LLC’s holdings in CVS Health were worth $5,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. FMR LLC boosted its position in CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after purchasing an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of CVS Health by 49.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in CVS Health by 12.6% in the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after buying an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of CVS Health in the third quarter valued at approximately $34,379,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVS shares. The Goldman Sachs Group lowered their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays lowered their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America dropped their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $77.55.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $55.74 on Wednesday. The stock has a market capitalization of $69.97 billion, a PE ratio of 9.80, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The firm has a 50 day moving average of $71.95 and a two-hundred day moving average of $73.09.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. On average, research analysts predict that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is presently 46.75%.

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.