CVS Health Co. (NYSE:CVS) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its position in shares of CVS Health Co. (NYSE:CVS) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,378 shares of the pharmacy operator’s stock after purchasing an additional 3,530 shares during the period. Oppenheimer & Co. Inc.’s holdings in CVS Health were worth $4,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC increased its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter worth about $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction that occurred on 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 in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

Shares of NYSE:CVS opened at $65.85 on Friday. The business’s 50 day simple moving average is $54.33 and its 200-day simple moving average is $56.46. The firm has a market capitalization of $83.02 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. 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 quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate 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 forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business 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. 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 payout ratio is currently 72.68%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $69.83.

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.