Zions Bancorporation N.A. Buys 732 Shares of CVS Health Co. (NYSE:CVS)

Zions Bancorporation N.A. raised its position in CVS Health Co. (NYSE:CVS) by 17.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,944 shares of the pharmacy operator’s stock after acquiring an additional 732 shares during the period. Zions Bancorporation N.A.’s holdings in CVS Health were worth $222,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Widmann Financial Services Inc. lifted its stake in CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after acquiring an additional 200 shares during the last quarter. EagleClaw Capital Managment LLC lifted its position in shares of CVS Health by 3.4% in the fourth quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock valued at $275,000 after buying an additional 200 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of CVS Health by 4.8% during 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 during the period. Angeles Investment Advisors LLC lifted its holdings in CVS Health by 3.7% during the 4th quarter. Angeles Investment Advisors LLC now owns 5,706 shares of the pharmacy operator’s stock valued at $256,000 after purchasing an additional 204 shares during the last quarter. Finally, Rogco LP lifted its stake in shares of CVS Health by 3.2% during the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator’s stock worth $303,000 after buying an additional 210 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $67.16 on Thursday. The stock has a market cap of $84.68 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.98 and a beta of 0.54. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $80.75. The company’s fifty day moving average is $61.52 and its 200 day moving average is $57.53. 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 (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. CVS Health’s payout ratio is 72.68%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost 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 approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their price objective on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Wolfe Research increased their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Four 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, the company currently has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health 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.