Empire Financial Management Company LLC Grows Position in CVS Health Co. (NYSE:CVS)

Empire Financial Management Company LLC raised its position in CVS Health Co. (NYSE:CVS) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,241 shares of the pharmacy operator’s stock after buying an additional 475 shares during the quarter. Empire Financial Management Company LLC’s holdings in CVS Health were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Morse Asset Management Inc purchased a new stake in CVS Health during the 3rd quarter valued at approximately $409,000. Westside Investment Management Inc. raised its stake in shares of CVS Health by 4.6% during the third quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator’s stock worth $4,041,000 after purchasing an additional 2,856 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of CVS Health by 280.7% during the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock worth $1,732,000 after purchasing an additional 20,308 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in CVS Health in the 3rd quarter valued at $2,071,000. Finally, Tidal Investments LLC increased its stake in CVS Health by 52.2% in the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after buying an additional 38,408 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $75.00 in a report on Thursday, February 13th. Robert W. Baird boosted their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company raised their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.83.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.22% of the company’s stock.

CVS Health Stock Up 0.4 %

Shares of NYSE:CVS opened at $65.86 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $83.04 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $71.45. The stock’s fifty day simple moving average is $66.49 and its 200-day simple moving average is $58.87.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, equities research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.04%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

CVS Health Company 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.