37,432 Shares in CVS Health Co. (NYSE:CVS) Acquired by Allstate Corp

Allstate Corp purchased a new position in CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,432 shares of the pharmacy operator's stock, valued at approximately $1,680,000.

Several other hedge funds have also recently modified their holdings of CVS. TD Private Client Wealth LLC raised its holdings in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator's stock worth $2,951,000 after buying an additional 10,465 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock worth $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Hall Laurie J Trustee lifted its holdings in shares of CVS Health by 25,484.4% during the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator's stock worth $517,000 after purchasing an additional 11,468 shares during the period. B&D White Capital Company LLC acquired a new position in CVS Health in the 4th quarter worth approximately $417,000. Finally, TOMS Capital Investment Management LP acquired a new stake in CVS Health during the 3rd quarter valued at approximately $121,987,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

Remove Ads

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.09 during midday trading on Thursday, hitting $68.16. The company's stock had a trading volume of 3,171,941 shares, compared to its average volume of 11,493,294. The company has a market cap of $85.94 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $75.27. The business's 50 day simple moving average is $63.02 and its 200 day simple moving average is $57.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS - Get Free Report) last issued its 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%. On average, analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.90%. CVS Health's payout ratio is 72.68%.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Evercore ISI lifted their price objective 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 investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and a consensus price target of $70.39.

CVS Health 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.