Partners in Financial Planning Invests $265,000 in CVS Health Co. (NYSE:CVS)

Partners in Financial Planning purchased a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,905 shares of the pharmacy operator's stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Norges Bank acquired a new position in CVS Health in the fourth quarter worth about $839,574,000. Davis Selected Advisers raised its holdings in shares of CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after buying an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of CVS Health during the fourth quarter valued at $116,033,000. Institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company's stock.

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CVS Health Trading Down 5.9 %

CVS stock traded down $3.97 during midday trading on Friday, reaching $63.54. The company's stock had a trading volume of 13,291,234 shares, compared to its average volume of 11,566,172. The business's 50-day simple moving average is $63.47 and its 200-day simple moving average is $58.01. 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 Co. has a 52 week low of $43.56 and a 52 week high of $75.12. The stock has a market cap of $80.11 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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, sell-side 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. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's payout ratio is 72.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVS shares. Leerink Partners upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $75.00 in a research report on Thursday, February 13th. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Wolfe Research boosted their target price on CVS Health from 67.00 to 70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Leerink Partnrs raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their target price on CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Four investment 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $70.39.

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.