New Age Alpha Advisors LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

New Age Alpha Advisors LLC purchased a new stake 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 & Exchange Commission. The institutional investor purchased 74,655 shares of the pharmacy operator's stock, valued at approximately $3,351,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CVS Health by 3.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator's stock worth $16,424,000 after purchasing an additional 9,418 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in CVS Health in the 3rd quarter worth about $1,369,000. Portland Investment Counsel Inc. lifted its stake in CVS Health by 2.1% during the 3rd quarter. Portland Investment Counsel Inc. now owns 200,800 shares of the pharmacy operator's stock valued at $12,626,000 after acquiring an additional 4,200 shares during the period. White Knight Strategic Wealth Advisors LLC boosted its holdings in shares of CVS Health by 59.7% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 5,702 shares of the pharmacy operator's stock valued at $359,000 after acquiring 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% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,145 shares of the pharmacy operator's stock worth $68,045,000 after acquiring an additional 42,307 shares during the period. Institutional investors own 80.66% of the company's stock.

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CVS Health Price Performance

CVS traded down $0.01 during trading on Thursday, hitting $68.06. 2,719,972 shares of the company traded hands, compared to its average volume of 11,490,897. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The company has a market cap of $85.81 billion, a PE ratio of 18.60, a P/E/G ratio of 0.98 and a beta of 0.54. The stock's 50-day simple moving average is $63.02 and its two-hundred day simple moving average is $57.91. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $75.27.

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 analysts' consensus estimates 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 anticipate that CVS Health Co. will post 5.89 earnings per share 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 issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVS shares. StockNews.com upgraded shares of CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Cantor Fitzgerald upgraded CVS Health from a "neutral" rating to an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Finally, Piper Sandler raised their price objective on shares of 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 issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $70.39.

Insider Activity at CVS Health

In other CVS Health 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 transaction, the senior vice president now directly owns 8,394 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction dated 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 owns 39,356 shares of the company's stock, 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. 0.24% of the stock is owned by insiders.

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.