Chevy Chase Trust Holdings LLC Sells 78,214 Shares of CVS Health Corporation (NYSE:CVS)

Chevy Chase Trust Holdings LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 675,317 shares of the pharmacy operator's stock after selling 78,214 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of CVS Health worth $45,753,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Whitebox Advisors LLC bought a new position in CVS Health in the 4th quarter valued at $249,000. Fairfax Financial Holdings Ltd. Can acquired a new position in CVS Health during the 4th quarter valued at about $121,742,000. Lazard Asset Management LLC boosted its stake in CVS Health by 7.3% in the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock valued at $192,617,000 after acquiring an additional 293,406 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of CVS Health by 22.8% during the fourth quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator's stock worth $25,566,000 after purchasing an additional 105,708 shares during the period. Finally, Capital World Investors grew its position in shares of CVS Health by 26.6% during the 4th 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. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVS shares. Truist Financial boosted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. UBS Group boosted their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.75.

CVS Health Price Performance

Shares of NYSE CVS traded up $1.60 during midday trading on Thursday, reaching $67.97. The company's stock had a trading volume of 1,060,465 shares, compared to its average volume of 10,872,110. The company has a market cap of $85.98 billion, a P/E ratio of 16.24, a P/E/G ratio of 0.97 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The business's 50 day moving average price is $64.81 and its two-hundred day moving average price is $60.62. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. On average, analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now owns 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by 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.