American Assets Investment Management LLC Has $2.69 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

American Assets Investment Management LLC decreased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,000 shares of the pharmacy operator's stock after selling 20,000 shares during the period. American Assets Investment Management LLC's holdings in CVS Health were worth $2,693,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Dodge & Cox lifted its stake in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares during the last quarter. Capital World Investors lifted its stake in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after purchasing an additional 689,867 shares in the last quarter. Capital International Investors raised its holdings in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS traded up $1.21 during midday trading on Friday, reaching $63.99. 13,306,917 shares of the company's stock were exchanged, compared to its average volume of 11,213,338. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company's 50 day simple moving average is $65.62 and its two-hundred day simple moving average is $59.67. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The firm has a market capitalization of $80.95 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.

Analysts Set New Price Targets

CVS has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Mizuho lifted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Truist Financial boosted their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.94.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health 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 directly owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

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.