CVS Health Co. (NYSE:CVS) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its stake in CVS Health Co. (NYSE:CVSFree Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,027 shares of the pharmacy operator’s stock after acquiring an additional 6,412 shares during the period. CIBC Private Wealth Group LLC’s holdings in CVS Health were worth $13,820,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVS. Atticus Wealth Management LLC raised its holdings in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. USA Financial Formulas raised its holdings in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the last quarter. Coston McIsaac & Partners raised its holdings in shares of CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after buying an additional 161 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of CVS Health during the fourth quarter valued at approximately $42,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVS. Truist Financial reissued a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. Royal Bank of Canada dropped their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Mizuho dropped their target price on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $75.05.

Check Out Our Latest Report on CVS Health

Insider Activity

In related news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Trading Up 0.7 %

NYSE CVS opened at $60.70 on Thursday. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The stock has a market cap of $76.20 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 0.57 and a beta of 0.53. The firm’s 50 day moving average price is $63.74 and its two-hundred day moving average price is $71.32.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Profile

(Free Report)

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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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