By otakuyassine3@gmail.com 
Allworth Financial LP boosted its stake in CVS Health Co. (NYSE:CVS – Free Report) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,795 shares of the pharmacy operator’s stock after purchasing an additional 4,182 shares during the period. Allworth Financial LP’s holdings in CVS Health were worth $978,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in CVS. Assetmark Inc. raised its holdings in shares of CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC raised its stake in shares of CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares during the period. Cullinan Associates Inc. lifted its position in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Principal Financial Group Inc. grew its holdings in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its stake in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after buying an additional 10,453 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CVS has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Evercore ISI upped their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $70.00.
Get Our Latest Stock Report on CVS Health
Insider Buying and Selling at CVS Health
In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.
CVS Health Price Performance
Shares of CVS opened at $66.35 on Thursday. 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 has a market cap of $83.65 billion, a P/E ratio of 18.13, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a fifty day moving average price of $51.80 and a 200 day moving average price of $56.12.
CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, research analysts forecast that CVS Health Co. will post 5.92 earnings per share for the current year.
CVS Health Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 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.
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