CVS Health Co. (NYSE:CVS) Stock Position Decreased by Oarsman Capital Inc.

Oarsman Capital Inc. lowered its position in CVS Health Co. (NYSE:CVS) by 33.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 950 shares of the pharmacy operator’s stock after selling 483 shares during the period. Oarsman Capital Inc.’s holdings in CVS Health were worth $43,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. Norges Bank bought a new position in shares of CVS Health during the 4th quarter valued at $839,574,000. Davis Selected Advisers raised its holdings 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 valued at $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC lifted 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 buying an additional 6,475,271 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of CVS Health during the 4th quarter worth about $116,033,000. Finally, ARGA Investment Management LP raised its stake in shares of CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after acquiring an additional 2,371,563 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVS shares. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Barclays boosted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Price Performance

Shares of CVS Health stock opened at $63.54 on Monday. The firm has a market cap of $80.11 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The firm’s 50-day simple moving average is $63.47 and its 200-day simple moving average is $58.01. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $74.85. 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) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate 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, research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.