Swiss National Bank Has $159.53 Million Holdings in CVS Health Co. (NYSE:CVS)

Swiss National Bank trimmed its holdings in CVS Health Co. (NYSE:CVS) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,553,760 shares of the pharmacy operator’s stock after selling 171,000 shares during the period. Swiss National Bank’s holdings in CVS Health were worth $159,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter valued at approximately $31,000. Ridgewood Investments LLC raised its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in CVS Health during the third quarter valued at approximately $40,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated 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 directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Barclays boosted their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler decreased their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $69.83.

CVS Health Stock Performance

CVS Health stock opened at $65.79 on Friday. The firm’s fifty day moving average price is $58.07 and its 200-day moving average price is $56.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market cap of $82.95 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS 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%. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) 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.