New York Life Investment Management LLC Acquires 1,370 Shares of CVS Health Co. (NYSE:CVS)

New York Life Investment Management LLC raised its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 168,675 shares of the pharmacy operator’s stock after acquiring an additional 1,370 shares during the period. New York Life Investment Management LLC’s holdings in CVS Health were worth $7,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter valued at $25,000. 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 valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health in the 4th quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at $32,000. Institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CVS. Evercore ISI upped 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. Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Barclays upped 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Trading Up 2.1 %

CVS Health stock opened at $65.85 on Friday. The firm has a 50-day moving average of $54.33 and a 200-day moving average of $56.46. 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 company has a market cap of $83.02 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.61.

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

CVS Health Dividend Announcement

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