Headlands Technologies LLC Purchases Shares of 41,514 CVS Health Co. (NYSE:CVS)

Headlands Technologies LLC acquired a new stake in CVS Health Co. (NYSE:CVS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,514 shares of the pharmacy operator's stock, valued at approximately $1,864,000.

Other hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC grew its stake in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter worth $31,000. Finally, Financial Perspectives Inc raised its stake in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVS shares. Truist Financial upped their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. UBS Group reduced their target price on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Finally, Piper Sandler boosted 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. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $70.39.

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Insider Activity at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of the business'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 completion of the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

CVS Health Stock Down 5.9 %

Shares of NYSE:CVS traded down $3.97 during trading hours on Friday, hitting $63.54. The company's stock had a trading volume of 13,291,234 shares, compared to its average volume of 11,586,970. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm's fifty day moving average price is $63.47 and its 200 day moving average price is $58.01. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $74.85. The company has a market capitalization of $80.11 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.98 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.19%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

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.