CVS Health Co. (NYSE:CVS) Shares Sold by Bank OZK

Bank OZK lowered its position in shares of CVS Health Co. (NYSE:CVS) by 16.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,869 shares of the pharmacy operator’s stock after selling 1,115 shares during the quarter. Bank OZK’s holdings in CVS Health were worth $463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. FMR LLC raised its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. International Assets Investment Management LLC raised its position in shares of CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board grew its holdings in CVS Health by 49.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after buying an additional 698,054 shares in the last quarter. Pacer Advisors Inc. grew its holdings in CVS Health by 12.6% in the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after buying an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in CVS Health in the 3rd quarter worth approximately $34,379,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS traded down $0.15 during trading hours on Friday, hitting $67.18. 6,396,438 shares of the company were exchanged, compared to its average volume of 8,376,818. The company has a market capitalization of $84.68 billion, a PE ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm has a fifty day simple moving average of $74.42 and a 200-day simple moving average of $73.64. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.99 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s payout ratio is currently 41.18%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVS. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Wells Fargo & Company decreased their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink began coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price target for the company. Finally, Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $89.44.

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.