Avanza Fonder AB Sells 14,342 Shares of CVS Health Co. (NYSE:CVS)

Avanza Fonder AB decreased its position in CVS Health Co. (NYSE:CVS - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 91,362 shares of the pharmacy operator's stock after selling 14,342 shares during the quarter. Avanza Fonder AB's holdings in CVS Health were worth $6,219,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CVS. Dodge & Cox raised its stake in shares of 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 increased its holdings in CVS Health by 26.6% during 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 in the last quarter. Geode Capital Management LLC raised its position in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after purchasing an additional 689,867 shares during the last quarter. Capital International Investors boosted its stake in CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after purchasing an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of 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 worth $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVS has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Barclays set a $79.00 price target on shares of CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Royal Bank of Canada upped their price objective on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Wolfe Research lifted their target price on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.75.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director now owns 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company's stock.

CVS Health Trading Up 2.3%

CVS stock traded up $1.45 during midday trading on Wednesday, hitting $65.71. 7,421,667 shares of the company's stock were exchanged, compared to its average volume of 11,024,120. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The stock's fifty day moving average price is $65.06 and its 200-day moving average price is $60.01. The company has a market cap of $83.12 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. 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 Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 EPS. Research analysts predict 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. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 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.