CVS Health Co. (NYSE:CVS) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,037 shares of the pharmacy operator's stock after selling 7,973 shares during the quarter. Tidal Investments LLC's holdings in CVS Health were worth $4,670,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Shay Capital LLC acquired a new position in shares of CVS Health in the 4th quarter valued at $641,000. Rafferty Asset Management LLC increased its holdings in shares of CVS Health by 11.9% in the 4th quarter. Rafferty Asset Management LLC now owns 142,717 shares of the pharmacy operator's stock valued at $6,407,000 after acquiring an additional 15,126 shares during the period. Raiffeisen Bank International AG acquired a new position in CVS Health in the 4th quarter valued at $377,000. Point72 Hong Kong Ltd acquired a new position in CVS Health in the 4th quarter valued at $3,198,000. Finally, ProShare Advisors LLC increased its stake in CVS Health by 13.0% in the 4th quarter. ProShare Advisors LLC now owns 225,757 shares of the pharmacy operator's stock valued at $10,134,000 after buying an additional 26,054 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated 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. The trade was a 47.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Price Performance

Shares of CVS Health stock traded up $0.58 on Friday, hitting $60.80. The company's stock had a trading volume of 8,141,495 shares, compared to its average volume of 11,331,035. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $66.15 and a 200-day moving average price of $59.41. The company has a market capitalization of $76.91 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

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

CVS Health Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVS. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Barclays boosted their price objective on shares of CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price objective (up from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Finally, Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.