Aljian Capital Management LLC Raises Stake in CVS Health Co. (NYSE:CVS)

Aljian Capital Management LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS) by 21.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,349 shares of the pharmacy operator’s stock after acquiring an additional 2,319 shares during the period. Aljian Capital Management LLC’s holdings in CVS Health were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP raised its position in shares of CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after buying an additional 2,371,563 shares during the period. State Street Corp grew its position in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new stake in CVS Health during the third quarter worth $121,987,000. Finally, Pathway Financial Advisers LLC raised its position in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVS shares. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Barclays lifted their price target on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler decreased their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Evercore ISI lifted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, UBS Group lowered their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

CVS Health Trading Up 15.0 %

Shares of NYSE:CVS opened at $63.23 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $50.71 and its two-hundred day moving average is $55.94. The company has a market cap of $79.57 billion, a PE ratio of 16.05, a P/E/G ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last issued its 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 return on equity of 10.72% and a net margin of 1.36%. Equities analysts predict that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

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.