Y Intercept Hong Kong Ltd Has $1.60 Million Stake in CVS Health Co. (NYSE:CVS)

Y Intercept Hong Kong Ltd reduced its stake in CVS Health Co. (NYSE:CVS) by 78.8% in the 4th quarter, Holdings Channel reports. The firm owned 35,740 shares of the pharmacy operator’s stock after selling 132,634 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CVS Health were worth $1,604,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp increased its position in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. Geode Capital Management LLC grew its position in CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after acquiring an additional 461,569 shares during the period. Pzena Investment Management LLC grew its holdings in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after purchasing an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after purchasing an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

CVS Health Stock Up 1.0 %

Shares of CVS Health stock opened at $63.65 on Wednesday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The business has a 50-day moving average of $53.11 and a two-hundred day moving average of $56.29. The company has a market capitalization of $80.24 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.18%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

About CVS Health

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.