Fairfax Financial Holdings Ltd. Can Takes $121.74 Million Position in CVS Health Co. (NYSE:CVS)

Fairfax Financial Holdings Ltd. Can purchased a new position in CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,712,000 shares of the pharmacy operator's stock, valued at approximately $121,742,000. CVS Health makes up 7.8% of Fairfax Financial Holdings Ltd. Can's investment portfolio, making the stock its 5th largest holding. Fairfax Financial Holdings Ltd. Can owned approximately 0.22% of CVS Health at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Ridgewood Investments LLC increased its holdings in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the 4th quarter worth approximately $29,000. Financial Perspectives Inc boosted its stake in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after purchasing an additional 466 shares during the period. Finally, MidAtlantic Capital Management Inc. boosted its stake in CVS Health by 112.1% in the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent analyst reports. Wolfe Research upped their price target on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. StockNews.com upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday. Argus set a $77.00 price target on CVS Health in a research note on Tuesday, February 18th. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Finally, Piper Sandler increased their target price on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average price target of $74.81.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael F. Mahoney acquired 30,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Corporate insiders own 1.22% of the company's stock.

CVS Health Stock Down 1.3%

CVS traded down $0.87 on Friday, reaching $66.98. The company's stock had a trading volume of 6,356,260 shares, compared to its average volume of 11,412,073. The stock has a 50 day moving average of $66.96 and a two-hundred day moving average of $59.06. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $84.73 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 earnings per share. As a group, analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio is presently 63.48%.

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.