5,644 Shares in CVS Health Co. (NYSE:CVS) Bought by Greenland Capital Management LP

Greenland Capital Management LP purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,644 shares of the pharmacy operator’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arete Wealth Advisors LLC purchased a new position in shares of CVS Health during the third quarter worth approximately $1,369,000. Morse Asset Management Inc purchased a new position in CVS Health in the 3rd quarter worth $409,000. Wellington Management Group LLP lifted its stake in CVS Health by 6.2% in the third quarter. Wellington Management Group LLP now owns 224,248 shares of the pharmacy operator’s stock worth $14,101,000 after purchasing an additional 13,120 shares during the last quarter. iA Global Asset Management Inc. boosted its position in CVS Health by 15.6% during the third quarter. iA Global Asset Management Inc. now owns 8,156 shares of the pharmacy operator’s stock valued at $513,000 after buying an additional 1,103 shares during the period. Finally, Glass Jacobson Investment Advisors llc grew its stake in shares of CVS Health by 26.8% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,220 shares of the pharmacy operator’s stock valued at $77,000 after buying an additional 258 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Up 5.9 %

Shares of NYSE CVS opened at $67.64 on Wednesday. The stock has a market cap of $85.28 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $74.85. The firm has a 50-day moving average of $64.03 and a 200 day moving average of $58.18.

CVS Health (NYSE:CVS) last posted its quarterly 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 9.11% and a net margin of 1.24%. As a group, sell-side analysts expect 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 will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVS. Barclays raised their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Truist Financial lifted their target price on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four research 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of CVS Health 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 acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on 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 directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.