Citizens Business Bank Invests $3.31 Million in CVS Health Co. (NYSE:CVS)

Citizens Business Bank purchased a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 41,969 shares of the pharmacy operator’s stock, valued at approximately $3,314,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after buying an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of CVS Health by 49.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after buying an additional 698,054 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after buying an additional 616,785 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in CVS Health in the third quarter valued at approximately $34,379,000. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

CVS stock traded up $0.28 during trading hours on Tuesday, reaching $67.73. The stock had a trading volume of 13,476,347 shares, compared to its average volume of 10,639,692. The stock has a market capitalization of $85.37 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The stock has a 50-day simple moving average of $74.22 and a 200 day simple moving average of $73.65. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 EPS. Analysts predict that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Piper Sandler upped their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

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.