K.J. Harrison & Partners Inc Acquires 19,800 Shares of CVS Health Co. (NYSE:CVS)

K.J. Harrison & Partners Inc lifted its holdings in CVS Health Co. (NYSE:CVS) by 59.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,221 shares of the pharmacy operator’s stock after buying an additional 19,800 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in CVS Health were worth $4,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC raised its position in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the last quarter. Coston McIsaac & Partners lifted its stake in shares of CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in CVS Health in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVS shares. Wells Fargo & Company cut their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Piper Sandler increased their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Royal Bank of Canada lowered their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by insiders.

CVS Health Stock Down 0.2 %

NYSE CVS traded down $0.15 on Friday, reaching $67.18. The company had a trading volume of 6,393,752 shares, compared to its average volume of 10,655,146. The company’s fifty day moving average is $74.42 and its 200-day moving average is $73.64. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The firm has a market capitalization of $84.68 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $1.99 earnings per share. On average, research analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

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.