Cibc World Markets Corp Increases Holdings in CVS Health Co. (NYSE:CVS)

Cibc World Markets Corp increased its stake in CVS Health Co. (NYSE:CVS) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,542 shares of the pharmacy operator’s stock after acquiring an additional 27,985 shares during the period. Cibc World Markets Corp’s holdings in CVS Health were worth $8,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the third quarter valued at $31,000. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health in the 4th quarter worth about $28,000. Finally, RPg Family Wealth Advisory LLC bought a new position in CVS Health during the 3rd quarter valued at about $40,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS opened at $67.49 on Wednesday. The firm has a market capitalization of $85.09 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business’s 50-day moving average is $59.32 and its two-hundred day moving average is $57.12. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 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 anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial raised their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $75.00 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 report on Thursday, February 13th. Finally, Argus set a $77.00 price objective on shares of CVS Health in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

CVS Health 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.