Drexel Morgan & Co. Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

Drexel Morgan & Co. increased its position in shares of CVS Health Co. (NYSE:CVS) by 199.8% in the 4th quarter, HoldingsChannel reports. The firm owned 600,165 shares of the pharmacy operator’s stock after acquiring an additional 400,000 shares during the quarter. CVS Health accounts for 5.6% of Drexel Morgan & Co.’s portfolio, making the stock its 7th largest holding. Drexel Morgan & Co.’s holdings in CVS Health were worth $26,941,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its position in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after buying an additional 10,465 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its stake in shares of CVS Health by 8.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Hall Laurie J Trustee increased its position in CVS Health by 25,484.4% during the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after purchasing an additional 11,468 shares in the last quarter. Finally, B&D White Capital Company LLC bought a new position in CVS Health in the 4th quarter valued at approximately $417,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore ISI upped their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Barclays upped their target price on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Truist Financial raised their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Argus set a $77.00 target price on shares of CVS Health in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Trading Down 2.1 %

NYSE CVS opened at $67.22 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. 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 has a 50 day simple moving average of $60.60 and a 200 day simple moving average of $57.35. The stock has a market capitalization of $84.75 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.98 and a beta of 0.54.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was 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 owns 8,394 shares in the company, valued at approximately $556,941.90. This represents 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 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.