CVS Health Co. (NYSE:CVS) Stake Lessened by WBI Investments LLC

WBI Investments LLC lowered its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 70.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,066 shares of the pharmacy operator's stock after selling 36,035 shares during the period. WBI Investments LLC's holdings in CVS Health were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CVS. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health in the fourth quarter worth $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the fourth quarter worth $29,000. Financial Perspectives Inc increased its stake in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares during the last quarter. Compass Planning Associates Inc acquired a new position in shares of CVS Health in the fourth quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. increased its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after acquiring an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of CVS Health 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 in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.3%

NYSE CVS opened at $62.71 on Tuesday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $72.51. The stock has a market cap of $79.33 billion, a PE ratio of 17.13, a PEG ratio of 0.98 and a beta of 0.60. The firm has a 50-day simple moving average of $66.52 and a 200 day simple moving average of $59.29. 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 released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping 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 business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. During the same period last year, the business earned $1.31 earnings per share. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio is 63.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVS shares. Wolfe Research upped their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Finally, Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $74.94.

About CVS Health

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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