Scotia Capital Inc. Sells 102,940 Shares of CVS Health Co. (NYSE:CVS)

Scotia Capital Inc. lessened its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 43.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,697 shares of the pharmacy operator's stock after selling 102,940 shares during the period. Scotia Capital Inc.'s holdings in CVS Health were worth $6,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC grew its holdings in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter worth $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the fourth quarter worth $29,000. Financial Perspectives Inc boosted its holdings in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. grew its position in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company's stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

CVS Health Price Performance

CVS traded down $1.14 during midday trading on Thursday, hitting $67.41. The company had a trading volume of 10,358,282 shares, compared to its average volume of 11,767,953. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $71.45. The firm's 50-day simple moving average is $65.96 and its 200-day simple moving average is $58.70. The company has a market capitalization of $84.99 billion, a PE ratio of 18.40, a P/E/G ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is 72.68%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVS. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday. Mizuho raised their target price on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, UBS Group cut their price target on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eighteen have issued 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 an average price target of $71.83.

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.