Allianz SE acquired a new position in CVS Health Co. (NYSE:CVS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 83,011 shares of the pharmacy operator's stock, valued at approximately $3,648,000.
Several other large investors have also bought and sold shares of CVS. Allstate Corp purchased a new stake in shares of CVS Health in the 4th quarter worth approximately $1,680,000. DnB Asset Management AS boosted its stake in CVS Health by 5.5% in the 4th quarter. DnB Asset Management AS now owns 219,374 shares of the pharmacy operator's stock worth $9,848,000 after purchasing an additional 11,483 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in CVS Health by 3.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,494,378 shares of the pharmacy operator's stock valued at $67,083,000 after purchasing an additional 51,652 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in CVS Health during the 4th quarter valued at about $3,351,000. Finally, Norges Bank bought a new position in shares of CVS Health in the fourth quarter worth approximately $839,574,000. 80.66% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired 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 in the company, 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. Corporate insiders own 0.24% of the company's stock.
CVS Health Price Performance
CVS traded up $0.09 during trading on Thursday, reaching $68.16. 3,171,941 shares of the company traded hands, 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 PEG ratio of 0.98 and a beta of 0.54. 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 Co. has a 12-month low of $43.56 and a 12-month high of $75.27. The firm has a fifty day simple moving average of $63.02 and a 200 day simple moving average of $57.91.
CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, equities analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.
CVS Health Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 72.68%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on CVS shares. Leerink Partnrs upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. UBS Group reduced their price target on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Truist Financial raised their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Four investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.39.
View Our Latest Stock Report on CVS Health
About CVS Health
(
Free Report)
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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