Invesco Ltd. Purchases 4,173,243 Shares of CVS Health Co. (NYSE:CVS)

Invesco Ltd. boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,038,089 shares of the pharmacy operator’s stock after acquiring an additional 4,173,243 shares during the period. Invesco Ltd. owned about 1.43% of CVS Health worth $809,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in CVS Health during the third quarter valued at approximately $31,000. Ridgewood Investments LLC boosted its position in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health in the 4th quarter worth $29,000. Finally, Financial Perspectives Inc boosted its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.2 %

NYSE:CVS opened at $63.79 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The company’s fifty day moving average price is $63.62 and its 200-day moving average price is $58.05. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $74.85. The firm has a market capitalization of $80.43 billion, a P/E ratio of 17.43, a PEG ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS) last announced 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 research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.17%. CVS Health’s dividend payout ratio is presently 72.68%.

Analysts Set New Price Targets

Several research firms have commented on CVS. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research lifted their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Barclays increased their price objective on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Four investment 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. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $70.39.

Insider Activity

In other news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.