Hsbc Holdings PLC Sells 370,311 Shares of CVS Health Co. (NYSE:CVS)

Hsbc Holdings PLC decreased its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,615,894 shares of the pharmacy operator's stock after selling 370,311 shares during the quarter. Hsbc Holdings PLC owned approximately 0.21% of CVS Health worth $117,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EagleClaw Capital Managment LLC raised its holdings in shares of CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC lifted its position in CVS Health by 4.8% during the fourth quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock valued at $200,000 after purchasing an additional 204 shares during the last quarter. Angeles Investment Advisors LLC grew its position in CVS Health by 3.7% in the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock worth $256,000 after acquiring an additional 204 shares in the last quarter. Rogco LP raised its holdings in shares of CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after buying an additional 210 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its holdings in shares of CVS Health by 1.1% in the 4th quarter. Beck Mack & Oliver LLC now owns 20,425 shares of the pharmacy operator's stock worth $917,000 after acquiring an additional 232 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS Health stock traded down $0.48 during trading hours on Monday, reaching $64.85. 2,472,964 shares of the stock were exchanged, compared to its average volume of 11,804,951. The stock has a market cap of $81.76 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.98 and a beta of 0.57. The firm's 50 day moving average is $66.48 and its 200 day moving average is $58.77. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

Wall Street Analyst Weigh In

Several analysts have commented on CVS shares. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Piper Sandler upped their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Argus set a $77.00 price target on shares of CVS Health in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.83.

Insider Buying and Selling

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Company 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.