CIBC Asset Management Inc Acquires 4,967 Shares of CVS Health Co. (NYSE:CVS)

CIBC Asset Management Inc boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,689 shares of the pharmacy operator’s stock after purchasing an additional 4,967 shares during the quarter. CIBC Asset Management Inc’s holdings in CVS Health were worth $9,862,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $32,000. Ridgewood Investments LLC lifted 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 worth $28,000 after acquiring an additional 450 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in shares of CVS Health in the 4th quarter worth approximately $28,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Wells Fargo & Company raised their target price on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Stock Down 0.5 %

NYSE CVS opened at $65.47 on Wednesday. The stock has a fifty day moving average of $51.30 and a 200-day moving average of $56.03. The stock has a market capitalization of $82.39 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, equities research analysts forecast that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.06%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

CVS Health Company 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.