Northern Trust Corp Has $560.76 Million Holdings in CVS Health Co. (NYSE:CVS)

Northern Trust Corp boosted its position in CVS Health Co. (NYSE:CVS) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health in the fourth quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the fourth quarter worth about $29,000. Financial Perspectives Inc boosted its holdings in 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 purchasing an additional 466 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $37,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Evercore ISI boosted their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. StockNews.com upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Robert W. Baird raised their price objective on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $71.83.

CVS Health Stock Up 0.1 %

NYSE:CVS opened at $65.00 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $71.45. The stock’s fifty day simple moving average is $66.45 and its 200-day simple moving average is $58.74. The firm has a market capitalization of $81.95 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.98 and a beta of 0.57.

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

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Buying and Selling

In related news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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 represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. 1.22% of the stock is currently owned by company 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.