42,645 Shares in CVS Health Co. (NYSE:CVS) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,645 shares of the pharmacy operator’s stock, valued at approximately $1,914,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of 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 purchasing an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock worth $1,651,997,000 after purchasing an additional 461,569 shares in the last quarter. Pzena Investment Management LLC grew its stake 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 purchasing an additional 6,475,271 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock valued at $579,932,000 after acquiring an additional 710,281 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the firm’s 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 transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Argus set a $77.00 price objective on shares of CVS Health in a research note on Tuesday, February 18th. Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Barclays upped their price objective on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.83.

CVS Health Trading Up 0.4 %

NYSE CVS opened at $67.84 on Thursday. The stock has a market capitalization of $85.53 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a 50-day moving average price of $59.76 and a 200 day moving average price of $57.20. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.92%. CVS Health’s dividend payout ratio 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.