CIBC Private Wealth Group LLC Has $3.58 Million Stake in CVS Health Co. (NYSE:CVS)

CIBC Private Wealth Group LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,829 shares of the pharmacy operator's stock after selling 7,750 shares during the period. CIBC Private Wealth Group LLC's holdings in CVS Health were worth $3,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CVS. Norges Bank acquired a new position in CVS Health during the 4th quarter worth approximately $839,574,000. Davis Selected Advisers increased its stake in CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock valued at $511,115,000 after buying an additional 11,018,438 shares during the last quarter. Pzena Investment Management LLC lifted its position in 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CVS Health during the 4th quarter worth about $116,033,000. Finally, ARGA Investment Management LP grew its holdings in shares of CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator's stock valued at $107,866,000 after acquiring an additional 2,371,563 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and increased their price target for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research note on Thursday, February 13th. Wolfe Research boosted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Finally, Piper Sandler lifted their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.39.

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Insider Transactions at CVS Health

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

CVS Health Stock Performance

Shares of NYSE:CVS traded up $0.13 on Monday, reaching $63.79. 13,135,045 shares of the company's stock were exchanged, compared to its average volume of 11,593,231. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $74.85. The company has a fifty day moving average of $63.62 and a 200-day moving average of $58.05. The company has a market capitalization of $80.43 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.11% and a net margin of 1.24%. On average, research analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 72.68%.

CVS Health Company 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.