American International Group Inc. Sells 1,611 Shares of CVS Health Co. (NYSE:CVS)

American International Group Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS – Get Rating) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 342,163 shares of the pharmacy operator’s stock after selling 1,611 shares during the period. American International Group Inc.’s holdings in CVS Health were worth $31,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVS. VitalStone Financial LLC purchased a new stake in CVS Health in the fourth quarter valued at about $28,000. Godsey & Gibb Inc. purchased a new stake in CVS Health in the fourth quarter valued at about $28,000. Castleview Partners LLC raised its stake in CVS Health by 227.8% in the fourth quarter. Castleview Partners LLC now owns 318 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 221 shares during the last quarter. Mendota Financial Group LLC purchased a new stake in CVS Health in the fourth quarter valued at about $31,000. Finally, EWG Elevate Inc. purchased a new stake in CVS Health in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock traded down $0.53 on Friday, reaching $67.14. The company’s stock had a trading volume of 2,996,480 shares, compared to its average volume of 8,906,432. The company has a market capitalization of $86.08 billion, a P/E ratio of 22.44, a PEG ratio of 1.25 and a beta of 0.61. CVS Health Co. has a 52-week low of $66.61 and a 52-week high of $107.26. The stock has a 50-day moving average price of $72.74 and a 200-day moving average price of $84.92. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 0.79.

CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The pharmacy operator reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.13. The business had revenue of $85.28 billion during the quarter, compared to analysts’ expectations of $80.67 billion. CVS Health had a return on equity of 15.75% and a net margin of 1.20%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.22 earnings per share. Analysts expect that CVS Health Co. will post 8.63 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Friday, April 21st were paid a dividend of $0.605 per share. The ex-dividend date was Thursday, April 20th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.60%. CVS Health’s dividend payout ratio is currently 79.87%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of CVS Health in a report on Thursday, February 9th. UBS Group decreased their price target on shares of CVS Health from $102.00 to $94.00 in a report on Tuesday, May 2nd. Barclays reduced their price objective on CVS Health from $100.00 to $90.00 in a research note on Thursday, May 4th. Sanford C. Bernstein reduced their price objective on CVS Health from $107.00 to $93.00 in a research note on Tuesday, May 2nd. Finally, Jefferies Financial Group raised their price objective on CVS Health from $130.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.75.

Insider Transactions at CVS Health

In other news, CEO Karen S. Lynch acquired 14,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were bought at an average price of $69.75 per share, for a total transaction of $976,500.00. Following the acquisition, the chief executive officer now owns 431,392 shares of the company’s stock, valued at approximately $30,089,592. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

CVS Health Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.