Hartford Financial Management Inc. Sells 20,648 Shares of CVS Health Corporation (NYSE:CVS)

Hartford Financial Management Inc. cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 62.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,169 shares of the pharmacy operator’s stock after selling 20,648 shares during the quarter. Hartford Financial Management Inc.’s holdings in CVS Health were worth $824,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at $839,574,000. Capital World Investors increased its position in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock worth $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Davis Selected Advisers grew its position in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after buying an additional 11,018,438 shares during the period. Dodge & Cox grew its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC grew its position in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after buying an additional 6,475,271 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now directly owns 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CVS. Morgan Stanley restated an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, UBS Group boosted their price objective on CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Two equities 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

CVS Health Trading Down 0.3%

NYSE CVS opened at $66.91 on Thursday. The stock has a market capitalization of $84.64 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.96 and a beta of 0.56. The stock’s 50 day moving average price is $65.02 and its two-hundred day moving average price is $60.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. As a group, analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

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.