Sompo Asset Management Co. Ltd. Sells 6,689 Shares of CVS Health Co. (NYSE:CVS)

Sompo Asset Management Co. Ltd. reduced its position in CVS Health Co. (NYSE:CVS - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,834 shares of the pharmacy operator's stock after selling 6,689 shares during the quarter. Sompo Asset Management Co. Ltd.'s holdings in CVS Health were worth $5,738,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Dodge & Cox boosted its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the last quarter. Capital World Investors grew its stake in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC grew its position in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after purchasing an additional 689,867 shares in the last quarter. Capital International Investors lifted its holdings in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC grew its stake in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 0.9 %

CVS Health stock traded down $0.60 during mid-day trading on Monday, hitting $64.72. The company's stock had a trading volume of 3,722,489 shares, compared to its average volume of 11,810,484. The business has a 50 day moving average price of $66.48 and a 200-day moving average price of $58.77. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $71.45. The stock has a market cap of $81.60 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

Insider Buying and Selling

In related news, Director Michael F. Mahoney purchased 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of the 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 transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 1.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Robert W. Baird raised their target price on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Truist Financial upped their price target on CVS Health from $76.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Edward Jones upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.83.

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.