National Bank of Canada FI Boosts Stock Holdings in CVS Health Co. (NYSE:CVS)

National Bank of Canada FI lifted its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 37.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,682,572 shares of the pharmacy operator's stock after purchasing an additional 729,192 shares during the period. National Bank of Canada FI owned about 0.21% of CVS Health worth $118,892,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. EagleClaw Capital Managment LLC raised its stake in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator's stock worth $275,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC raised its stake in CVS Health by 4.8% during the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after acquiring an additional 204 shares during the period. Angeles Investment Advisors LLC lifted its holdings in CVS Health by 3.7% during the fourth quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator's stock valued at $256,000 after purchasing an additional 204 shares in the last quarter. Rogco LP boosted its position in shares of CVS Health by 3.2% in the fourth quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock worth $303,000 after purchasing an additional 210 shares during the period. Finally, Cozad Asset Management Inc. increased its stake in shares of CVS Health by 3.7% in the fourth quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator's stock worth $293,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

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Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James David Clark sold 7,513 shares of the business'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 value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Truist Financial upped their price objective on CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Edward Jones raised CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $70.39.

CVS Health Trading Down 5.9 %

NYSE CVS traded down $3.97 on Friday, hitting $63.54. 13,291,234 shares of the stock were exchanged, compared to its average volume of 11,586,970. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $74.85. The firm has a market capitalization of $80.11 billion, a P/E ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.57. 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 stock has a fifty day moving average price of $63.47 and a two-hundred day moving average price of $58.01.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS 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%. Research analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 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.