Charles Schwab Investment Management Inc. Raises Position in CVS Health Co. (NYSE:CVS)

Charles Schwab Investment Management Inc. lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 5.8% during the fourth quarter, Holdings Channel reports. The fund owned 12,918,949 shares of the pharmacy operator’s stock after acquiring an additional 710,281 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CVS Health were worth $579,932,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State Street Corp increased its holdings in CVS Health by 3.6% during the 3rd 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 during the period. Geode Capital Management LLC grew its position 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 buying an additional 461,569 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares during the period. Hotchkis & Wiley Capital Management LLC lifted 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 worth $748,085,000 after acquiring an additional 3,071,613 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CVS Health by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator’s stock valued at $443,301,000 after purchasing an additional 107,977 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 1.0 %

CVS opened at $64.26 on Wednesday. The business has a 50 day simple moving average of $55.14 and a 200-day simple moving average of $56.58. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a market capitalization of $81.01 billion, a P/E ratio of 17.56, a P/E/G ratio of 0.98 and a beta of 0.61. 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) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Buying and Selling

In other news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Truist Financial increased their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Barclays increased their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, 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. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

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.