6,814 Shares in CVS Health Co. (NYSE:CVS) Purchased by Prasad Wealth Partners LLC

Prasad Wealth Partners LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,814 shares of the pharmacy operator's stock, valued at approximately $306,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC grew its holdings in CVS Health by 0.7% during the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator's stock valued at $1,737,000 after purchasing an additional 200 shares during the period. Widmann Financial Services Inc. grew its stake in shares of CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock worth $724,000 after acquiring an additional 200 shares during the period. Manchester Capital Management LLC increased its holdings in CVS Health by 4.8% in the 4th quarter. Manchester Capital Management LLC now owns 4,457 shares of the pharmacy operator's stock worth $200,000 after acquiring an additional 204 shares during the last quarter. Rogco LP raised its stake in CVS Health by 3.2% in the 4th quarter. Rogco LP now owns 6,752 shares of the pharmacy operator's stock valued at $303,000 after acquiring an additional 210 shares during the period. Finally, United Asset Strategies Inc. boosted its position in CVS Health by 2.4% during the third quarter. United Asset Strategies Inc. now owns 9,217 shares of the pharmacy operator's stock worth $580,000 after purchasing an additional 212 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 2.1 %

CVS Health stock traded up $1.37 during trading hours on Friday, reaching $65.85. The stock had a trading volume of 10,474,843 shares, compared to its average volume of 12,550,715. The stock has a market cap of $83.02 billion, a PE ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61. The company has a fifty day simple moving average of $53.90 and a 200-day simple moving average of $56.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health's payout ratio is currently 72.68%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Leerink Partners upgraded 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. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, November 15th. Piper Sandler cut their target price 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. Finally, StockNews.com upgraded CVS Health from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $69.83.

Insiders Place Their Bets

In related news, Director Michael F. Mahoney bought 30,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company's stock.

CVS Health Company 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.