Sontag Advisory LLC bought a new position in CVS Health Corp (NYSE:CVS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,223 shares of the pharmacy operator’s stock, valued at approximately $80,000.
Several other institutional investors have also bought and sold shares of CVS. Oregon Public Employees Retirement Fund increased its holdings in shares of CVS Health by 6,858.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after purchasing an additional 24,728,818 shares in the last quarter. BlackRock Inc. increased its holdings in shares of CVS Health by 22.0% in the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after purchasing an additional 16,757,941 shares in the last quarter. Dodge & Cox bought a new stake in shares of CVS Health in the 3rd quarter worth $1,190,694,000. Geode Capital Management LLC increased its holdings in shares of CVS Health by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after purchasing an additional 4,376,604 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of CVS Health by 1,908.9% in the 4th quarter. Epoch Investment Partners Inc. now owns 3,872,700 shares of the pharmacy operator’s stock worth $253,740,000 after purchasing an additional 3,679,925 shares in the last quarter. 81.55% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health stock opened at $53.90 on Wednesday. CVS Health Corp has a 52 week low of $51.77 and a 52 week high of $82.15. The stock has a market capitalization of $70.40 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 1.06 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 3.71%. CVS Health’s payout ratio is 28.25%.
A number of analysts have commented on CVS shares. Argus reduced their target price on CVS Health from $100.00 to $80.00 and set a “positive” rating for the company in a report on Monday, February 25th. Sanford C. Bernstein began coverage on CVS Health in a report on Tuesday, March 12th. They issued an “outperform” rating and a $76.00 target price for the company. Wells Fargo & Co lowered CVS Health from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $104.00 to $68.00 in a report on Wednesday, February 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $96.00 target price on shares of CVS Health in a research report on Thursday, January 3rd. Finally, UBS Group assumed coverage on CVS Health in a research report on Thursday, January 17th. They set a “buy” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $79.61.
In other news, Director C David Brown II bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average cost of $53.18 per share, for a total transaction of $531,800.00. Following the completion of the transaction, the director now owns 16,222 shares of the company’s stock, valued at $862,685.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David W. Dorman bought 9,600 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $52.71 per share, for a total transaction of $506,016.00. Following the completion of the transaction, the director now directly owns 122,302 shares of the company’s stock, valued at approximately $6,446,538.42. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. 0.53% of the stock is currently owned by insiders.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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