Choreo LLC Trims Stock Position in CVS Health Corporation (NYSE:CVS)

Choreo LLC decreased its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,131 shares of the pharmacy operator's stock after selling 5,919 shares during the period. Choreo LLC's holdings in CVS Health were worth $4,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of CVS Health during the 4th quarter worth about $839,574,000. Capital World Investors boosted 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 purchasing an additional 12,819,148 shares in the last quarter. Dodge & Cox boosted its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Invesco Ltd. grew its holdings in shares of CVS Health by 30.1% during the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock valued at $809,730,000 after buying an additional 4,173,243 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in shares of CVS Health during the fourth quarter valued at about $121,742,000. Institutional investors own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

CVS stock traded up $1.92 during mid-day trading on Friday, hitting $60.67. The company had a trading volume of 10,876,795 shares, compared to its average volume of 6,441,933. The firm has a market cap of $76.75 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.87 and a beta of 0.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The stock's fifty day moving average price is $64.61 and its two-hundred day moving average price is $63.53.

CVS Health (NYSE:CVS - Get Free Report) last announced 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 1.39% and a return on equity of 10.59%. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company's revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVS shares. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 price objective (up from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Jefferies Financial Group lifted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. UBS Group reduced their price objective on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Tuesday. Truist Financial lifted their price objective 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. Finally, Barclays set a $79.00 price objective on shares of CVS Health and gave the company an "overweight" rating in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and a consensus target price of $74.82.

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.