16,913 Shares in CVS Health Co. (NYSE:CVS) Acquired by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan bought a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, HoldingsChannel reports. The firm bought 16,913 shares of the pharmacy operator’s stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Geode Capital Management LLC lifted its holdings in CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock worth $1,211,582,000 after acquiring an additional 689,867 shares in the last quarter. Pzena Investment Management LLC raised its position 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 during the period. Norges Bank bought a new position in shares of CVS Health during the 4th quarter valued at about $839,574,000. Invesco Ltd. grew its position in shares of CVS Health by 30.1% in the 4th quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator’s stock valued at $809,730,000 after purchasing an additional 4,173,243 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in CVS Health by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock worth $579,932,000 after buying an additional 710,281 shares during the period. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVS. Wells Fargo & Company increased their price objective on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Truist Financial upped their price objective on CVS Health from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group dropped their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Four equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.28.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the company’s 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 completion of 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 position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

CVS Health Trading Down 0.5 %

Shares of NYSE:CVS opened at $69.15 on Tuesday. The company has a 50-day simple moving average of $65.37 and a 200 day simple moving average of $58.58. The company has a market capitalization of $87.18 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.66.

CVS Health (NYSE:CVS) last issued its earnings results 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 return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is presently 72.68%.

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.