Mutual Advisors LLC raised its stake in shares of CVS Health Corp (NYSE:CVS) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,494 shares of the pharmacy operator’s stock after acquiring an additional 2,772 shares during the quarter. Mutual Advisors LLC’s holdings in CVS Health were worth $1,277,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Levin Capital Strategies L.P. lifted its position in shares of CVS Health by 12,771.1% in the 4th quarter. Levin Capital Strategies L.P. now owns 972,409 shares of the pharmacy operator’s stock worth $63,712,000 after buying an additional 964,854 shares during the last quarter. Jackson Wealth Management LLC bought a new position in shares of CVS Health in the 4th quarter worth about $1,535,000. Morgan Stanley lifted its position in shares of CVS Health by 7.9% in the 3rd quarter. Morgan Stanley now owns 9,018,238 shares of the pharmacy operator’s stock worth $709,914,000 after buying an additional 659,975 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of CVS Health by 13.8% in the 4th quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock worth $17,042,000 after buying an additional 31,567 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its position in shares of CVS Health by 1.5% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 27,715 shares of the pharmacy operator’s stock worth $1,816,000 after buying an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Wells Fargo & Co downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $104.00 to $68.00 in a research report on Wednesday, February 20th. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. Cantor Fitzgerald restated a “buy” rating and issued a $96.00 price target on shares of CVS Health in a research report on Thursday, January 3rd. Bank of America restated a “buy” rating and issued a $92.00 price target on shares of CVS Health in a research report on Thursday, January 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $91.00 price target on shares of CVS Health in a research report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.15.
Shares of NYSE:CVS opened at $52.63 on Friday. The stock has a market capitalization of $68.34 billion, a P/E ratio of 7.43, a PEG ratio of 1.03 and a beta of 0.94. CVS Health Corp has a fifty-two week low of $51.77 and a fifty-two week high of $82.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.65 and a current ratio of 1.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.07. The firm had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. CVS Health’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS. On average, research analysts expect that CVS Health Corp will post 6.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a $0.50 dividend. The ex-dividend date is Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.80%. CVS Health’s dividend payout ratio is presently 28.25%.
In related news, COO Jonathan C. Roberts sold 77,639 shares of CVS Health stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $64.54, for a total value of $5,010,821.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP James David Clark sold 1,664 shares of CVS Health stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.14, for a total transaction of $96,744.96. Following the completion of the sale, the senior vice president now owns 8,557 shares in the company, valued at $497,503.98. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. Company insiders own 0.53% of the company’s stock.
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CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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