Caisse Des Depots ET Consignations Invests $2.63 Million in CVS Health Co. (NYSE:CVS)

Caisse Des Depots ET Consignations purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 58,610 shares of the pharmacy operator’s stock, valued at approximately $2,631,000.

A number of other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of CVS Health by 258.9% during the third quarter. Larson Financial Group LLC now owns 3,542 shares of the pharmacy operator’s stock worth $223,000 after buying an additional 2,555 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in CVS Health by 7.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,096,238 shares of the pharmacy operator’s stock worth $68,931,000 after acquiring an additional 79,132 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of CVS Health during the third quarter valued at about $326,000. RPg Family Wealth Advisory LLC bought a new position in shares of CVS Health during the third quarter worth about $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CVS Health by 3.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock valued at $16,424,000 after purchasing an additional 9,418 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.6 %

NYSE CVS opened at $67.59 on Friday. 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 company has a market cap of $85.22 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a 50-day moving average of $61.83 and a 200-day moving average of $57.60. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.94%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Insider Buying and Selling

In related news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value 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 $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, 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 company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVS shares. Truist Financial lifted their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. 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 note on Tuesday, December 3rd. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, UBS Group reduced their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $70.39.

About CVS Health

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.