Asset Dedication LLC decreased its stake in shares of CVS Health Corp (NYSE:CVS) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,209 shares of the pharmacy operator’s stock after selling 392 shares during the period. Asset Dedication LLC’s holdings in CVS Health were worth $65,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Levin Capital Strategies L.P. boosted its holdings in CVS Health by 12,771.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 972,409 shares of the pharmacy operator’s stock valued at $63,712,000 after purchasing an additional 964,854 shares during the last quarter. Jackson Wealth Management LLC acquired a new stake in CVS Health in the 4th quarter valued at about $1,535,000. Pinnacle Bank purchased a new stake in shares of CVS Health in the 4th quarter valued at approximately $157,000. Texas Permanent School Fund grew its stake in shares of CVS Health by 13.8% in the 4th quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock valued at $17,042,000 after buying an additional 31,567 shares during the period. Finally, Butensky & Cohen Financial Security Inc. grew its stake in shares of CVS Health by 1.5% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 27,715 shares of the pharmacy operator’s stock valued at $1,816,000 after buying an additional 409 shares during the period. 80.39% of the stock is currently owned by institutional investors.

In other news, Director C David Brown II bought 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $53.18 per share, for a total transaction of $531,800.00. Following the purchase, the director now owns 16,222 shares of the company’s stock, valued at approximately $862,685.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig bought 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $58.27 per share, for a total transaction of $233,080.00. Following the purchase, the director now directly owns 5,378 shares in the company, valued at approximately $313,376.06. The disclosure for this purchase can be found here. Insiders have bought a total of 23,600 shares of company stock valued at $1,270,896 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

CVS has been the subject of a number of research analyst reports. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. Wells Fargo & Co lowered shares of CVS Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $104.00 to $68.00 in a report on Wednesday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 price objective on shares of CVS Health in a report on Thursday, February 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $91.00 price target on shares of CVS Health in a research note on Thursday, February 21st. Finally, Loop Capital cut their price target on shares of CVS Health to $68.00 and set a “hold” rating on the stock in a research note on Thursday, February 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $77.62.

Shares of CVS stock opened at $53.00 on Tuesday. The company has a market cap of $68.70 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 1.03 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.12. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company had revenue of $61.65 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same period last year, the business earned $1.48 earnings per share. The business’s revenue was up 34.8% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Corp will post 6.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date was Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.77%. CVS Health’s dividend payout ratio is currently 28.25%.

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CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

Further Reading: Return on Investment (ROI) Defined, Explained

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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