OVERSEA CHINESE BANKING Corp Ltd Grows Holdings in CVS Health Co. (NYSE:CVS)

OVERSEA CHINESE BANKING Corp Ltd raised its position in CVS Health Co. (NYSE:CVS - Free Report) by 92.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 34,125 shares of the pharmacy operator's stock after acquiring an additional 16,365 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in CVS Health were worth $1,518,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CVS. Xponance Inc. raised its holdings in CVS Health by 2.5% during the fourth quarter. Xponance Inc. now owns 188,834 shares of the pharmacy operator's stock worth $8,477,000 after buying an additional 4,585 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of CVS Health in the 4th quarter worth about $1,914,000. Horizon Investments LLC lifted its position in CVS Health by 2.2% in the 4th quarter. Horizon Investments LLC now owns 36,227 shares of the pharmacy operator's stock valued at $1,606,000 after acquiring an additional 784 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in CVS Health by 41.6% during the 4th quarter. Advisors Asset Management Inc. now owns 189,208 shares of the pharmacy operator's stock worth $8,494,000 after purchasing an additional 55,542 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of CVS Health by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 95,518 shares of the pharmacy operator's stock worth $4,380,000 after purchasing an additional 4,463 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore ISI lifted their target price on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Finally, Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $70.39.

CVS Health Stock Performance

NYSE CVS traded up $0.49 during trading on Monday, hitting $67.54. 11,328,816 shares of the company's stock traded hands, compared to its average volume of 11,101,447. The stock has a market capitalization of $85.15 billion, a price-to-earnings ratio of 18.45, 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. The business has a 50 day moving average of $60.60 and a 200-day moving average of $57.35. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities research analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health's dividend payout ratio is currently 72.68%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the company'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 sale, the senior vice president now owns 8,394 shares of the company's stock, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael F. Mahoney purchased 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

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.