Nuveen Asset Management LLC lowered its position in CVS Health Co. (NYSE:CVS - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,990,562 shares of the pharmacy operator's stock after selling 342,288 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.24% of CVS Health worth $134,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in CVS Health in the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $29,000. Financial Perspectives Inc boosted its stake in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $37,000. Finally, MidAtlantic Capital Management Inc. boosted its stake in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.
CVS Health Stock Performance
NYSE:CVS traded up $0.95 on Tuesday, hitting $63.73. The stock had a trading volume of 7,394,444 shares, compared to its average volume of 11,412,124. The stock has a market cap of $80.62 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. 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 business's 50-day simple moving average is $66.52 and its two-hundred day simple moving average is $59.29. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51.
CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same period in the previous year, the firm earned $1.31 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on CVS shares. UBS Group upped their target price on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Leerink Partnrs upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.94.
Get Our Latest Report on CVS Health
Insider Activity
In other news, SVP James David Clark sold 7,513 shares of the business's 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 transaction, the senior vice president now owns 8,394 shares of the company's stock, valued at approximately $556,941.90. The trade was a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company's stock.
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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