E Fund Management Co. Ltd. Has $289,000 Holdings in CVS Health Co. (NYSE:CVS)

E Fund Management Co. Ltd. increased its position in shares of CVS Health Co. (NYSE:CVS) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,658 shares of the pharmacy operator’s stock after acquiring an additional 313 shares during the quarter. E Fund Management Co. Ltd.’s holdings in CVS Health were worth $289,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CVS. FMR LLC increased its stake in CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares during the period. International Assets Investment Management LLC grew its position in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board grew its position in CVS Health by 49.9% in 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 acquiring an additional 698,054 shares in the last quarter. Pacer Advisors Inc. grew its position 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 worth $435,325,000 after acquiring an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in CVS Health in the third quarter worth approximately $34,379,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVS. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $60.00 in a research report on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Wells Fargo & Company decreased their price objective on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday. Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group decreased their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Trading Up 1.4 %

CVS Health stock traded up $0.76 during midday trading on Thursday, hitting $55.67. 10,298,162 shares of the stock were exchanged, compared to its average volume of 11,874,933. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $69.89 billion, a PE ratio of 9.79, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a fifty day simple moving average of $71.54 and a two-hundred day simple moving average of $72.96. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.20 earnings per share. Equities research analysts anticipate that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.78%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’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 sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.