J.Safra Asset Management Corp Raises Stake in CVS Health Co. (NYSE:CVS)

J.Safra Asset Management Corp lifted its position in shares of CVS Health Co. (NYSE:CVS) by 19,986.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,013 shares of the pharmacy operator’s stock after buying an additional 2,998 shares during the period. J.Safra Asset Management Corp’s holdings in CVS Health were worth $132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after buying an additional 10,465 shares during the last quarter. Principal Financial Group Inc. grew its holdings in CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Sompo Asset Management Co. Ltd. lifted its holdings in shares of CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after acquiring an additional 10,453 shares during the period. Finally, Hall Laurie J Trustee boosted its position in shares of CVS Health by 25,484.4% in the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after acquiring an additional 11,468 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Barclays boosted their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial raised their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.83.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $66.01 on Thursday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market cap of $83.23 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.98 and a beta of 0.61. The business’s 50 day moving average is $55.58 and its two-hundred day moving average is $56.63.

CVS Health (NYSE:CVS) last released 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 return on equity of 9.11% and a net margin of 1.24%. Analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.03%. CVS Health’s dividend payout ratio is presently 72.68%.

About CVS Health

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.