SVB Wealth LLC Acquires Shares of 39,541 CVS Health Co. (NYSE:CVS)

SVB Wealth LLC acquired a new stake in CVS Health Co. (NYSE:CVS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 39,541 shares of the pharmacy operator's stock, valued at approximately $1,775,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock worth $1,651,997,000 after acquiring an additional 461,569 shares in the last quarter. Pzena Investment Management LLC increased its position in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CVS Health by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after buying an additional 304,386 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVS shares. Truist Financial lifted their target price on CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Leerink Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Four investment 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.83.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was bought 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 $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company's stock.

CVS Health Stock Down 1.4 %

NYSE:CVS traded down $0.90 during trading hours on Monday, reaching $64.82. The company's stock had a trading volume of 7,077,932 shares, compared to its average volume of 12,413,927. The company has a market cap of $81.72 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The business's 50-day moving average is $54.33 and its 200-day moving average is $56.47. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

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, topping analysts' consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.10%. CVS Health's payout ratio is 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.