Cohen Capital Management Inc. Has $6.82 Million Position in CVS Health Co. (NYSE:CVS)

Cohen Capital Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,924 shares of the pharmacy operator’s stock after selling 2,873 shares during the period. CVS Health comprises 1.1% of Cohen Capital Management Inc.’s holdings, making the stock its 27th largest holding. Cohen Capital Management Inc.’s holdings in CVS Health were worth $6,820,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVS. State Street Corp increased its stake in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC grew its position in CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after acquiring an additional 461,569 shares during the last quarter. Pzena Investment Management LLC raised its stake in CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after acquiring an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of CVS Health by 34.8% during 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. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research analyst reports. Barclays raised their target price on shares of CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. UBS Group cut their price objective on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Truist Financial increased their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wolfe Research boosted their price target on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Stock Performance

CVS stock opened at $63.42 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $52.39 and a 200-day moving average price of $56.22. The firm has a market cap of $79.95 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (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%. As a group, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued 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 4.19%. 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.