Founders Financial Alliance LLC Purchases 260 Shares of CVS Health Co. (NYSE:CVS)

Founders Financial Alliance LLC boosted its stake in shares of CVS Health Co. (NYSE:CVS) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,089 shares of the pharmacy operator’s stock after acquiring an additional 260 shares during the period. Founders Financial Alliance LLC’s holdings in CVS Health were worth $876,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC increased its stake 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 period. USA Financial Formulas increased its stake in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the period. Cornerstone Planning Group LLC increased its stake in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC boosted its holdings in shares of CVS Health by 400.0% in the 4th 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. Finally, Northwest Financial Advisors acquired a new stake in shares of CVS Health in the 4th quarter valued at $42,000. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVS shares. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 target price (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Piper Sandler raised their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Wells Fargo & Company cut their price objective on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 7th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Trading Down 0.2 %

NYSE:CVS traded down $0.11 during trading hours on Friday, hitting $55.54. 11,719,996 shares of the company were exchanged, compared to its average volume of 12,009,832. The stock has a market capitalization of $69.72 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a one year low of $53.70 and a one year high of $83.25. The company has a fifty day simple moving average of $67.57 and a 200 day simple moving average of $72.02.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.