CVS Health Co. (NYSE:CVS) SVP James David Clark Sells 7,513 Shares of Stock

CVS Health Co. (NYSE:CVS) SVP James David Clark sold 7,513 shares of the company’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 value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

CVS Health Stock Up 1.7 %

CVS stock opened at $66.34 on Friday. The company has a market cap of $83.64 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company’s 50-day moving average price is $56.42 and its 200 day moving average price is $56.76. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $839,574,000. Capital World Investors raised its position in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after buying an additional 12,819,148 shares during the last quarter. Davis Selected Advisers increased its position in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares during the last quarter. Dodge & Cox increased its position in shares of CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after acquiring an additional 6,475,271 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVS shares. Barclays upped their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Evercore ISI increased their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

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.