CIBC Asset Management Inc Has $9.86 Million Stake in CVS Health Co. (NYSE:CVS)

CIBC Asset Management Inc raised its holdings in CVS Health Co. (NYSE:CVS) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 219,689 shares of the pharmacy operator’s stock after acquiring an additional 4,967 shares during the period. CIBC Asset Management Inc’s holdings in CVS Health were worth $9,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC raised its position in CVS Health by 0.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after purchasing an additional 200 shares during the last quarter. Widmann Financial Services Inc. raised its position in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after acquiring an additional 200 shares in the last quarter. DT Investment Partners LLC raised its position in shares of CVS Health by 7.8% in the 3rd quarter. DT Investment Partners LLC now owns 2,777 shares of the pharmacy operator’s stock worth $175,000 after acquiring an additional 202 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator’s stock worth $200,000 after acquiring an additional 204 shares in the last quarter. Finally, Rogco LP raised its position in shares of CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after acquiring an additional 210 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVS. Mizuho lowered their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Finally, Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

CVS Health Price Performance

Shares of NYSE CVS opened at $65.47 on Wednesday. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The stock’s 50 day moving average price is $51.30 and its 200-day moving average price is $56.03. The company has a market capitalization of $82.39 billion, a PE ratio of 16.62, a PEG ratio of 0.60 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, equities analysts anticipate that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.06%. CVS Health’s payout ratio is presently 67.51%.

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.