Inceptionr LLC bought a new position in CVS Health Co. (NYSE:CVS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,402 shares of the pharmacy operator's stock, valued at approximately $602,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the 3rd quarter valued at about $31,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after buying an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the fourth quarter valued at approximately $28,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of CVS Health during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.66% of the company's stock.
Insider Transactions at CVS Health
In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
CVS Health Stock Up 0.2 %
Shares of NYSE:CVS traded up $0.15 during trading on Monday, reaching $66.48. 1,217,107 shares of the company traded hands, compared to its average volume of 11,719,898. The firm has a fifty day simple moving average of $56.42 and a 200 day simple moving average of $56.73. 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 1-year low of $43.56 and a 1-year high of $80.75. The firm has a market cap of $83.81 billion, a P/E ratio of 18.13, 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 earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping 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%. Analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.
CVS Health Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.00%. CVS Health's dividend payout ratio (DPR) is currently 72.68%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Piper Sandler decreased their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Truist Financial increased their price objective on CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.83.
View Our Latest Stock Report on CVS
About CVS Health
(
Free Report)
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.
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