83,011 Shares in CVS Health Co. (NYSE:CVS) Purchased by Allianz SE

Allianz SE acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,011 shares of the pharmacy operator’s stock, valued at approximately $3,648,000.

Several other institutional investors have also modified their holdings of CVS. Zurcher Kantonalbank Zurich Cantonalbank increased its position in CVS Health by 3.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock valued at $16,424,000 after acquiring an additional 9,418 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in CVS Health during the 3rd quarter valued at about $1,369,000. Portland Investment Counsel Inc. raised its position in CVS Health by 2.1% in the 3rd quarter. Portland Investment Counsel Inc. now owns 200,800 shares of the pharmacy operator’s stock worth $12,626,000 after purchasing an additional 4,200 shares during the period. White Knight Strategic Wealth Advisors LLC lifted its stake in CVS Health by 59.7% in the third quarter. White Knight Strategic Wealth Advisors LLC now owns 5,702 shares of the pharmacy operator’s stock worth $359,000 after purchasing an additional 2,132 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of CVS Health by 4.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,145 shares of the pharmacy operator’s stock valued at $68,045,000 after buying an additional 42,307 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of CVS Health stock opened at $67.13 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $79.98. The company has a market capitalization of $84.64 billion, a PE ratio of 18.34, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a 50-day simple moving average of $62.12 and a two-hundred day simple moving average of $57.67.

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, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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. This represents a $2.66 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Activity

In other news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. UBS Group decreased their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price target on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CVS Health presently has a consensus 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.