CVS Health Co. (NYSE:CVS) Position Increased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its stake in CVS Health Co. (NYSE:CVS) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 523,130 shares of the pharmacy operator’s stock after purchasing an additional 3,023 shares during the period. Royal London Asset Management Ltd.’s holdings in CVS Health were worth $23,483,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Widmann Financial Services Inc. increased its position in CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after acquiring an additional 200 shares during the period. EagleClaw Capital Managment LLC increased its position in CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after acquiring an additional 200 shares during the period. Manchester Capital Management LLC increased its position in CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock valued at $200,000 after acquiring an additional 204 shares during the period. Rogco LP increased its position in CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock valued at $303,000 after acquiring an additional 210 shares during the period. Finally, Cozad Asset Management Inc. increased its position in CVS Health by 3.7% in the 4th quarter. Cozad Asset Management Inc. now owns 6,532 shares of the pharmacy operator’s stock valued at $293,000 after acquiring an additional 233 shares during the period. Institutional investors 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 the business’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $67.22 on Friday. The stock has a market cap of $84.75 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a fifty day simple moving average of $60.60 and a 200-day simple moving average of $57.34. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last issued its 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%. On average, sell-side analysts anticipate 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 will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. CVS Health’s payout ratio is 72.68%.

Analyst Ratings Changes

CVS has been the topic of several analyst reports. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Truist Financial lifted their price target on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Evercore ISI lifted their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Wolfe Research lifted their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, 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. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.39.

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.