Vident Advisory LLC Has $1.49 Million Holdings in CVS Health Co. (NYSE:CVS)

Vident Advisory LLC reduced its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 59.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,233 shares of the pharmacy operator's stock after selling 48,983 shares during the quarter. Vident Advisory LLC's holdings in CVS Health were worth $1,492,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the fourth quarter worth about $29,000. Financial Perspectives Inc raised its holdings in 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 purchasing an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. lifted its position 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 purchasing an additional 437 shares during the period. Finally, Compass Planning Associates Inc purchased a new stake in CVS Health in the 4th quarter valued at approximately $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 0.8%

CVS traded up $0.50 on Tuesday, reaching $61.33. The company's stock had a trading volume of 4,740,575 shares, compared to its average volume of 11,304,486. The stock has a market cap of $77.59 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth 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. The business's 50 day moving average is $66.01 and its 200 day moving average is $59.45. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the previous year, the business posted $1.31 EPS. The company's quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.34%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank of Canada boosted their target price on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research report on Tuesday, April 15th. Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 target price (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.