Shell Asset Management Co. Has $1.35 Million Stake in CVS Health Co. (NYSE:CVS)

Shell Asset Management Co. cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 38.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,996 shares of the pharmacy operator's stock after selling 19,001 shares during the period. Shell Asset Management Co.'s holdings in CVS Health were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health during the 4th quarter valued at about $29,000. Financial Perspectives Inc raised its stake in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after buying an additional 466 shares during the last quarter. MidAtlantic Capital Management Inc. lifted its holdings in CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after buying an additional 437 shares during the period. Finally, Compass Planning Associates Inc acquired a new stake in CVS Health during the 4th quarter worth $37,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 2.5%

CVS stock traded down $1.62 during trading hours on Wednesday, reaching $62.13. 6,152,935 shares of the stock were exchanged, compared to its average volume of 11,369,544. The firm's 50-day moving average is $66.48 and its 200-day moving average is $59.32. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a market cap of $78.59 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $93.07 billion. During the same quarter last year, the firm earned $1.31 EPS. CVS Health'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 year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVS shares. Barclays lifted their price objective on CVS Health from $73.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Finally, UBS Group increased their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $74.94.

Insiders Place Their Bets

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company's stock.

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.