Bank of Jackson Hole Trust Acquires Shares of 3,418 CVS Health Co. (NYSE:CVS)

Bank of Jackson Hole Trust acquired a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,418 shares of the pharmacy operator’s stock, valued at approximately $153,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its stake in CVS Health by 7.4% in the fourth quarter. New York State Common Retirement Fund now owns 2,146,907 shares of the pharmacy operator’s stock valued at $96,375,000 after buying an additional 148,040 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in CVS Health by 13.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 42,150 shares of the pharmacy operator’s stock valued at $1,892,000 after buying an additional 4,904 shares during the last quarter. Kestra Investment Management LLC lifted its stake in CVS Health by 25.5% in the fourth quarter. Kestra Investment Management LLC now owns 6,806 shares of the pharmacy operator’s stock valued at $306,000 after buying an additional 1,384 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in CVS Health by 62.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 62,160 shares of the pharmacy operator’s stock valued at $2,790,000 after buying an additional 23,849 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of CVS Health by 2.3% in the fourth quarter. CIBC Asset Management Inc now owns 219,689 shares of the pharmacy operator’s stock valued at $9,862,000 after purchasing an additional 4,967 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other CVS Health 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 cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. Truist Financial boosted their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. UBS Group dropped their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Four equities 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Stock Up 1.2 %

CVS Health stock opened at $66.35 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock’s fifty day moving average is $51.80 and its two-hundred day moving average is $56.12. The firm has a market capitalization of $83.65 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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 return on equity of 9.11% and a net margin of 1.24%. Analysts predict that CVS Health Co. will post 5.92 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given 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 4.01%. CVS Health’s dividend payout ratio is currently 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.