Zurcher Kantonalbank Zurich Cantonalbank Acquires 56,895 Shares of CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,089 shares of the pharmacy operator's stock after purchasing an additional 56,895 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CVS Health were worth $14,279,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Sowell Financial Services LLC raised its stake in shares of CVS Health by 17.4% during the fourth quarter. Sowell Financial Services LLC now owns 38,370 shares of the pharmacy operator's stock valued at $1,722,000 after acquiring an additional 5,689 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of CVS Health during the fourth quarter valued at about $65,000. Amundi raised its stake in shares of CVS Health by 19.8% during the fourth quarter. Amundi now owns 7,059,915 shares of the pharmacy operator's stock valued at $324,246,000 after acquiring an additional 1,165,992 shares during the last quarter. Intellectus Partners LLC raised its stake in shares of CVS Health by 14.4% during the fourth quarter. Intellectus Partners LLC now owns 7,721 shares of the pharmacy operator's stock valued at $347,000 after acquiring an additional 970 shares during the last quarter. Finally, AMF Tjanstepension AB raised its stake in shares of CVS Health by 542.2% during the fourth quarter. AMF Tjanstepension AB now owns 396,512 shares of the pharmacy operator's stock valued at $17,799,000 after acquiring an additional 334,768 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 0.2 %

Shares of CVS stock opened at $64.88 on Thursday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm's 50 day moving average is $57.64 and its 200 day moving average is $56.87. The stock has a market capitalization of $81.80 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.98 and a beta of 0.53.

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CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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 expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is 72.68%.

Analyst Ratings Changes

Several brokerages have recently commented on CVS. Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Truist Financial boosted their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price target on shares of CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $69.83.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction 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 transaction, the senior vice president now owns 8,394 shares in the company, 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 can be accessed through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

About CVS Health

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.

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