Weatherly Asset Management L. P. Has $1.37 Million Holdings in CVS Health Co. (NYSE:CVS)

Weatherly Asset Management L. P. lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 15.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,369 shares of the pharmacy operator’s stock after selling 3,284 shares during the period. Weatherly Asset Management L. P.’s holdings in CVS Health were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVS. FMR LLC lifted its holdings 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 acquiring an additional 6,194,441 shares during the period. International Assets Investment Management LLC lifted its holdings 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 acquiring an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of CVS Health by 49.9% during 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 acquiring an additional 698,054 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after acquiring an additional 616,785 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of CVS Health during the 3rd quarter worth approximately $34,379,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVS. Wells Fargo & Company cut their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada dropped their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Trading Down 1.6 %

Shares of CVS stock traded down $1.13 during trading hours on Tuesday, hitting $68.50. 8,441,734 shares of the company’s stock traded hands, compared to its average volume of 10,757,553. The stock’s 50 day simple moving average is $75.13 and its 200 day simple moving average is $73.77. The stock has a market cap of $86.34 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last posted 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. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the company posted $1.99 earnings per share. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

CVS Health 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.