CVS Health Co. (NYSE:CVS) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,491,956 shares of the pharmacy operator's stock after buying an additional 928,833 shares during the quarter. Northern Trust Corp owned approximately 0.99% of CVS Health worth $560,764,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVS. Ridgewood Investments LLC raised its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in CVS Health in the 4th quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new stake in CVS Health during the 4th quarter worth approximately $29,000. Financial Perspectives Inc raised its holdings in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. raised its holdings in shares of CVS Health by 112.1% during the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after acquiring an additional 437 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Down 2.8 %

CVS traded down $1.96 during mid-day trading on Friday, hitting $67.49. 14,303,584 shares of the stock were exchanged, compared to its average volume of 11,558,645. The company has a market cap of $85.09 billion, a PE ratio of 18.44, a PEG ratio of 0.98 and a beta of 0.57. 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 firm's fifty day moving average is $66.72 and its two-hundred day moving average is $58.87. CVS Health Co. has a 1-year low of $43.56 and a 1-year 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 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.94%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

CVS has been the subject of several recent research reports. Truist Financial increased their price objective on CVS Health from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. UBS Group upped their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.69.

Insider Buying and Selling

In other news, Director Michael F. Mahoney bought 30,000 shares of the 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 completion of the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase 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 CVS Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $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. 1.22% of the stock is owned by insiders.

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.