Stonebrook Private Inc. Purchases New Stake in CVS Health Co. (NYSE:CVS)

Stonebrook Private Inc. bought a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,049 shares of the pharmacy operator’s stock, valued at approximately $241,000.

Several other institutional investors have also modified their holdings of CVS. FMR LLC boosted its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. International Assets Investment Management LLC raised its holdings in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in CVS Health by 49.9% in the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after acquiring an additional 698,054 shares during the last quarter. Pacer Advisors Inc. grew its holdings in CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after acquiring an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at approximately $34,379,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.4 %

Shares of CVS opened at $67.44 on Tuesday. The firm’s 50-day moving average is $74.22 and its two-hundred day moving average is $73.65. The firm has a market capitalization of $85.01 billion, a P/E ratio of 10.44, a PEG ratio of 0.89 and a beta of 0.52. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the previous year, the business posted $1.99 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.94%. CVS Health’s dividend payout ratio is currently 41.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CVS shares. SVB Leerink began coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price for the company. Finally, StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

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.