Quantinno Capital Management LP Sells 17,179 Shares of CVS Health Co. (NYSE:CVS)

Quantinno Capital Management LP lessened its stake in CVS Health Co. (NYSE:CVS - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,310 shares of the pharmacy operator's stock after selling 17,179 shares during the quarter. Quantinno Capital Management LP's holdings in CVS Health were worth $2,124,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in CVS Health during the fourth quarter worth about $839,574,000. Capital World Investors raised its stake in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares during the period. Davis Selected Advisers raised its stake in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after acquiring an additional 11,018,438 shares during the period. Dodge & Cox raised its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC raised its stake in 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 acquiring an additional 6,475,271 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Barclays increased their price objective on shares of CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wolfe Research increased their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price objective (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.94.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.22% of the company's stock.

CVS Health Trading Up 1.0%

CVS Health stock traded up $0.58 during midday trading on Friday, reaching $60.80. The stock had a trading volume of 8,141,495 shares, compared to its average volume of 11,331,035. The firm's fifty day simple moving average is $66.15 and its two-hundred day simple moving average is $59.41. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $76.91 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.98 and a beta of 0.60.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors 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 4.38%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio is 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.