Mackenzie Financial Corp Sells 12,814 Shares of CVS Health Co. (NYSE:CVS)

Mackenzie Financial Corp cut its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 745,974 shares of the pharmacy operator's stock after selling 12,814 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of CVS Health worth $58,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Live Oak Investment Partners bought a new stake in CVS Health in the fourth quarter worth about $25,000. Atticus Wealth Management LLC raised its holdings in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock worth $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC raised its holdings in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock worth $32,000 after buying an additional 243 shares during the period. PCA Investment Advisory Services Inc. acquired a new stake in CVS Health during the 2nd quarter worth about $37,000. Finally, ZRC Wealth Management LLC raised its holdings in CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator's stock worth $39,000 after buying an additional 400 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research analyst reports. Royal Bank of Canada lowered their target price on CVS Health from $86.00 to $84.00 and set an "outperform" rating on the stock in a research note on Thursday, February 8th. HSBC initiated coverage on CVS Health in a research note on Friday, December 22nd. They set a "buy" rating and a $94.00 target price on the stock. Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 target price on the stock. Wells Fargo & Company lowered their target price on CVS Health from $83.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Monday, April 8th. Finally, Piper Sandler lifted their target price on CVS Health from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.44.

CVS Health Stock Performance

CVS Health stock traded down $0.45 during trading hours on Wednesday, reaching $68.58. 8,098,555 shares of the company were exchanged, compared to its average volume of 10,906,099. The firm has a market cap of $86.44 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.91 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $75.53 and a 200 day moving average of $73.73. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analysts' expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 earnings per share. As a group, research analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.88%. CVS Health's dividend payout ratio (DPR) is presently 41.18%.

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.