Pictet Asset Management Holding SA Sells 9,319 Shares of CVS Health Co. (NYSE:CVS)

Pictet Asset Management Holding SA lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 565,896 shares of the pharmacy operator’s stock after selling 9,319 shares during the period. Pictet Asset Management Holding SA’s holdings in CVS Health were worth $25,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC grew its holdings in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health in the 4th quarter worth $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health in the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new position in CVS Health during the third quarter worth about $31,000. Finally, Financial Perspectives Inc grew its position in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 1.0 %

Shares of CVS stock opened at $67.79 on Tuesday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $79.98. The business’s fifty day moving average is $62.42 and its 200 day moving average is $57.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market capitalization of $85.46 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. On average, equities research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.92%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVS shares. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI increased their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.39.

Insider Activity at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

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.