CVS Health Co. (NYSE:CVS) Shares Sold by ING Groep NV

ING Groep NV trimmed its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 43.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,060 shares of the pharmacy operator's stock after selling 256,007 shares during the quarter. ING Groep NV's holdings in CVS Health were worth $25,825,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Atticus Wealth Management LLC grew its stake 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 last quarter. USA Financial Formulas raised its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock valued at $30,000 after purchasing an additional 321 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 243 shares during the last quarter. ZRC Wealth Management LLC boosted its stake in CVS Health by 400.0% in 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 last quarter. Finally, Northwest Financial Advisors acquired a new position in CVS Health during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of CVS Health from $76.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 7th. TD Cowen downgraded CVS Health from a "buy" rating to a "hold" rating and lowered their price target for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Leerink Partnrs downgraded CVS Health from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 1st. Mizuho reduced their price objective on CVS Health from $86.00 to $72.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Finally, Truist Financial reiterated a "buy" rating and issued a $66.00 price objective (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $76.75.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by insiders.

CVS Health Stock Up 0.3 %

CVS stock traded up $0.16 during trading hours on Friday, reaching $57.68. 9,607,690 shares of the stock were exchanged, compared to its average volume of 15,924,059. The firm's 50-day moving average is $69.06 and its 200-day moving average is $72.39. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The company has a market cap of $72.41 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 0.55 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health's dividend payout ratio (DPR) is currently 46.75%.

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.

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