Cape Investment Advisory Inc. Purchases 251 Shares of CVS Health Co. (NYSE:CVS)

Cape Investment Advisory Inc. increased its position in shares of CVS Health Co. (NYSE:CVS) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,015 shares of the pharmacy operator’s stock after acquiring an additional 251 shares during the period. Cape Investment Advisory Inc.’s holdings in CVS Health were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Glassman Wealth Services increased its holdings in CVS Health by 9.1% during the 4th quarter. Glassman Wealth Services now owns 4,232 shares of the pharmacy operator’s stock worth $334,000 after acquiring an additional 352 shares during the period. Primecap Management Co. CA grew its stake in CVS Health by 0.5% in the 4th quarter. Primecap Management Co. CA now owns 3,443,795 shares of the pharmacy operator’s stock worth $271,922,000 after buying an additional 16,650 shares in the last quarter. Johnson Financial Group Inc. grew its stake in CVS Health by 96.6% in the 4th quarter. Johnson Financial Group Inc. now owns 6,994 shares of the pharmacy operator’s stock worth $552,000 after buying an additional 3,437 shares in the last quarter. Founders Financial Alliance LLC grew its stake in CVS Health by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 11,089 shares of the pharmacy operator’s stock worth $876,000 after buying an additional 260 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in CVS Health by 1.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,425,149 shares of the pharmacy operator’s stock worth $112,530,000 after buying an additional 23,378 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on CVS. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and cut their price target for the stock from $99.00 to $59.00 in a research note on Tuesday, May 7th. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Wells Fargo & Company cut their price objective 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, May 7th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

CVS Health Trading Down 0.2 %

NYSE CVS traded down $0.11 during trading on Friday, hitting $55.54. The company had a trading volume of 11,725,739 shares, compared to its average volume of 17,230,286. 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 market cap of $69.72 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.53 and a beta of 0.56. The company’s fifty day moving average is $67.13 and its 200-day moving average is $71.92.

CVS Health (NYSE:CVS) last issued its quarterly 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). The business 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 was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

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

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.