CVS Health Co. (NYSE:CVS) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its position in CVS Health Co. (NYSE:CVS) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 805,514 shares of the pharmacy operator’s stock after selling 170,155 shares during the period. American Century Companies Inc. owned 0.06% of CVS Health worth $36,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter worth about $31,000. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC acquired a new position in CVS Health during the third quarter worth $40,000. Finally, Hopwood Financial Services Inc. purchased a new stake in CVS Health in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 8,394 shares of the company’s stock, valued at $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 owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVS shares. UBS Group lowered their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Truist Financial increased their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Stock Performance

NYSE:CVS opened at $67.59 on Friday. The company has a market cap of $85.22 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a fifty day simple moving average of $61.83 and a two-hundred day simple moving average of $57.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. As a group, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.94%. CVS Health’s payout ratio is currently 72.68%.

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.