CVS Health Corporation (NYSE:CVS) Stake Trimmed by Morningstar Investment Services LLC

Morningstar Investment Services LLC lowered its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 46.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,720 shares of the pharmacy operator's stock after selling 5,840 shares during the quarter. Morningstar Investment Services LLC's holdings in CVS Health were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CVS. Madison Investment Advisors LLC acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $6,233,000. Thrivent Financial for Lutherans grew its position in shares of CVS Health by 4.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 95,518 shares of the pharmacy operator's stock worth $4,380,000 after buying an additional 4,463 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in CVS Health by 0.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 523,130 shares of the pharmacy operator's stock worth $23,483,000 after purchasing an additional 3,023 shares during the period. Semanteon Capital Management LP acquired a new position in CVS Health in the fourth quarter worth $804,000. Finally, Millstone Evans Group LLC acquired a new position in CVS Health in the fourth quarter worth $78,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CVS. Barclays set a $79.00 price objective on shares of CVS Health and gave the stock an "overweight" rating in a report on Monday, June 2nd. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Truist Financial lifted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $75.06.

Insider Transactions at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of NYSE CVS traded down $1.36 during midday trading on Friday, reaching $61.94. 8,610,279 shares of the company traded hands, compared to its average volume of 10,775,122. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a 50-day moving average price of $64.70 and a 200 day moving average price of $63.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.82 and a quick ratio of 0.63. The company has a market cap of $78.36 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $93.07 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Tuesday, July 22nd. CVS Health's payout ratio is currently 63.48%.

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.