CVS Health Co. (NYSE:CVS) Stock Holdings Raised by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its stake in CVS Health Co. (NYSE:CVS) by 92.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 34,125 shares of the pharmacy operator’s stock after purchasing an additional 16,365 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CVS Health were worth $1,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the 3rd quarter worth about $31,000. Ridgewood Investments LLC increased its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health in the 4th quarter worth about $28,000. RPg Family Wealth Advisory LLC bought a new stake in shares of CVS Health in the 3rd quarter worth about $40,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of CVS Health during the 4th quarter valued at about $29,000. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVS. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Evercore ISI boosted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective 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. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $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 owned by insiders.

CVS Health Trading Up 0.4 %

Shares of NYSE:CVS opened at $67.84 on Thursday. The company has a 50 day moving average of $59.76 and a 200-day moving average of $57.20. The firm has a market cap 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 twelve month low of $43.56 and a twelve 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.

CVS Health (NYSE:CVS) last issued its 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%. As a group, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) 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.