824,250 Shares in CVS Health Co. (NYSE:CVS) Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC bought a new stake in shares of CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 824,250 shares of the pharmacy operator's stock, valued at approximately $65,083,000. Pzena Investment Management LLC owned 0.06% of CVS Health at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. SOA Wealth Advisors LLC. boosted its stake in shares of CVS Health by 4.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator's stock valued at $226,000 after purchasing an additional 133 shares during the period. Apella Capital LLC boosted its holdings in shares of CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator's stock valued at $272,000 after purchasing an additional 136 shares during the period. Prairie Sky Financial Group LLC grew its stake in CVS Health by 4.1% in the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator's stock worth $285,000 after purchasing an additional 141 shares in the last quarter. WealthShield Partners LLC raised its position in CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator's stock valued at $355,000 after purchasing an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of CVS Health by 9.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator's stock worth $129,000 after buying an additional 142 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Friday, March 15th. StockNews.com cut CVS Health from a "buy" rating to a "hold" rating in a research report on Thursday, February 15th. TD Cowen lowered CVS Health from a "buy" rating to a "hold" rating and reduced their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Wells Fargo & Company cut their target price on CVS Health from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 7th. Finally, Barclays decreased their price target on shares of CVS Health from $78.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.75.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig bought 1,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company's stock.

CVS Health Stock Performance

Shares of CVS traded up $0.14 during mid-day trading on Wednesday, reaching $57.46. The company had a trading volume of 9,542,737 shares, compared to its average volume of 11,949,526. The stock has a 50 day moving average of $67.98 and a two-hundred day moving average of $72.13. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $72.13 billion, a P/E ratio of 10.10, a PEG ratio of 0.55 and a beta of 0.56. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health's payout ratio is currently 46.75%.

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.