Nan Shan Life Insurance Co. Ltd. Trims Stake in CVS Health Co. (NYSE:CVS)

Nan Shan Life Insurance Co. Ltd. decreased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 441,757 shares of the pharmacy operator's stock after selling 21,740 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in CVS Health were worth $19,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in CVS Health by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 173,643 shares of the pharmacy operator's stock valued at $7,795,000 after buying an additional 2,256 shares in the last quarter. Czech National Bank boosted its holdings in shares of CVS Health by 6.4% in the fourth quarter. Czech National Bank now owns 272,854 shares of the pharmacy operator's stock valued at $12,248,000 after purchasing an additional 16,424 shares during the period. Brookstone Capital Management increased its holdings in CVS Health by 10.9% during the 4th quarter. Brookstone Capital Management now owns 69,420 shares of the pharmacy operator's stock worth $3,116,000 after purchasing an additional 6,831 shares during the period. Moody National Bank Trust Division raised its position in CVS Health by 3.8% during the 4th quarter. Moody National Bank Trust Division now owns 24,185 shares of the pharmacy operator's stock valued at $1,086,000 after purchasing an additional 885 shares in the last quarter. Finally, Marcum Wealth LLC grew its position in shares of CVS Health by 17.2% during the 4th quarter. Marcum Wealth LLC now owns 8,723 shares of the pharmacy operator's stock worth $392,000 after buying an additional 1,283 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVS shares. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Wolfe Research increased their target price on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Finally, Piper Sandler lifted their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $74.94.

CVS Health Stock Down 6.7%

CVS Health stock opened at $60.50 on Wednesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The firm has a market cap of $76.53 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The business's 50-day moving average price is $66.84 and its 200 day moving average price is $59.15. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 EPS. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Tuesday, April 22nd. CVS Health's payout ratio is 63.48%.

CVS Health Company 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.

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