RMR Wealth Builders Has $1.07 Million Stake in CVS Health Co. (NYSE:CVS)

RMR Wealth Builders grew its stake in CVS Health Co. (NYSE:CVS) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,497 shares of the pharmacy operator’s stock after acquiring an additional 747 shares during the period. RMR Wealth Builders’ holdings in CVS Health were worth $1,066,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVS. Atticus Wealth Management LLC boosted its position in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the last quarter. ZRC Wealth Management LLC grew its position in CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares in the last quarter. Coston McIsaac & Partners lifted its position in CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of CVS Health during the 4th quarter worth about $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS Health stock opened at $54.88 on Thursday. The company has a 50-day simple moving average of $71.95 and a two-hundred day simple moving average of $73.09. CVS Health Co. has a twelve month low of $53.70 and a twelve month high of $83.25. The stock has a market capitalization of $68.89 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. Analysts forecast that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is presently 46.75%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVS shares. Mizuho reduced their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Wells Fargo & Company cut their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, TD Cowen cut CVS Health from a “buy” rating to a “hold” rating and reduced their price target for the stock from $99.00 to $59.00 in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

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.