Zurcher Kantonalbank Zurich Cantonalbank Buys 56,895 Shares of CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CVS Health Co. (NYSE:CVS) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 318,089 shares of the pharmacy operator’s stock after acquiring an additional 56,895 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVS Health were worth $14,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Versor Investments LP bought a new stake in shares of CVS Health in the 3rd quarter worth about $371,000. Apollon Wealth Management LLC increased its holdings in shares of CVS Health by 5.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 33,635 shares of the pharmacy operator’s stock worth $2,115,000 after buying an additional 1,608 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of CVS Health in the 3rd quarter worth about $816,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of CVS Health by 10.9% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 17,760 shares of the pharmacy operator’s stock worth $1,048,000 after buying an additional 1,745 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of CVS Health by 7.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 12,078 shares of the pharmacy operator’s stock worth $759,000 after buying an additional 865 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of CVS opened at $64.88 on Thursday. The company has a 50 day moving average price of $57.64 and a 200-day moving average price of $56.87. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The stock has a market capitalization of $81.80 billion, a PE ratio of 17.73, a PEG ratio of 0.98 and a beta of 0.53. 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 (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities analysts predict that CVS Health Co. will post 5.89 earnings per share 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 paid a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.10%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Buying and Selling

In other 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 purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Wolfe Research lifted their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Argus set a $77.00 price target on shares of CVS Health in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.