CVS Health Co. (NYSE:CVS) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 9.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 274,438 shares of the pharmacy operator's stock after selling 28,723 shares during the period. Comerica Bank's holdings in CVS Health were worth $12,320,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of CVS Health in the 4th quarter worth $839,574,000. Capital World Investors raised its stake in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after buying an additional 12,819,148 shares during the period. Davis Selected Advisers grew its stake in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after acquiring an additional 11,018,438 shares during the period. Dodge & Cox raised its stake in CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in CVS Health by 49.3% during the fourth 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 in the last quarter. Institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVS shares. Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. StockNews.com raised CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Evercore ISI upped their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, Barclays lifted their price target on CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.81.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost 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 in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Down 1.2 %

Shares of CVS Health stock traded down $0.79 on Tuesday, reaching $66.32. The stock had a trading volume of 6,984,481 shares, compared to its average volume of 11,487,466. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $83.61 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.60. The company has a 50 day moving average price of $66.79 and a 200 day moving average price of $58.81. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. CVS Health's dividend payout ratio is currently 63.48%.

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.