CVS Health Co. (NYSE:CVS) Shares Acquired by Norinchukin Bank The

Norinchukin Bank The lifted its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,846 shares of the pharmacy operator's stock after buying an additional 4,905 shares during the quarter. Norinchukin Bank The's holdings in CVS Health were worth $2,552,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Dodge & Cox boosted its stake in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Capital World Investors boosted its position in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Geode Capital Management LLC increased its position in CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after buying an additional 689,867 shares during the period. Capital International Investors lifted its stake in CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after buying an additional 1,212,126 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after acquiring an additional 6,475,271 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. UBS Group decreased 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 note on Tuesday, February 11th. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Piper Sandler increased their price objective on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Wolfe Research boosted their target price on CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $71.83.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney purchased 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company's stock, valued at $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 1.22% of the company's stock.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.29 during midday trading on Thursday, hitting $65.86. 7,010,414 shares of the stock were exchanged, compared to its average volume of 11,822,874. The stock has a market cap of $83.04 billion, a P/E ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.57. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $71.45. The company has a 50 day moving average price of $66.48 and a 200-day moving average price of $58.82. 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 (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. On average, research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

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 paid 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 4.04%. 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.