Glassy Mountain Advisors Inc. Invests $6.87 Million in CVS Health Co. (NYSE:CVS)

Glassy Mountain Advisors Inc. acquired a new position in CVS Health Co. (NYSE:CVS – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 73,758 shares of the pharmacy operator’s stock, valued at approximately $6,873,000. CVS Health comprises approximately 3.8% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 6th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of CVS. Nordea Investment Management AB increased its position in CVS Health by 38.6% during the second quarter. Nordea Investment Management AB now owns 9,680,490 shares of the pharmacy operator’s stock worth $899,511,000 after acquiring an additional 2,697,382 shares during the period. Capital Research Global Investors bought a new position in CVS Health during the first quarter worth $262,167,000. AQR Capital Management LLC increased its position in CVS Health by 145.6% during the second quarter. AQR Capital Management LLC now owns 3,374,381 shares of the pharmacy operator’s stock worth $312,670,000 after acquiring an additional 2,000,311 shares during the period. Bridgewater Associates LP increased its position in CVS Health by 159.8% during the second quarter. Bridgewater Associates LP now owns 3,146,236 shares of the pharmacy operator’s stock worth $291,530,000 after acquiring an additional 1,935,319 shares during the period. Finally, Vanguard Group Inc. increased its position in CVS Health by 1.5% during the third quarter. Vanguard Group Inc. now owns 115,934,841 shares of the pharmacy operator’s stock worth $11,056,706,000 after acquiring an additional 1,726,512 shares during the period. 77.29% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 1.9 %

CVS Health stock traded down $1.46 during trading hours on Friday, reaching $74.37. 16,807,803 shares of the company’s stock traded hands, compared to its average volume of 9,656,588. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.67 and a current ratio of 0.94. CVS Health Co. has a fifty-two week low of $73.91 and a fifty-two week high of $109.69. The firm has a market capitalization of $95.50 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.17 and a beta of 0.65. The firm’s 50 day moving average is $85.40 and its 200-day moving average is $93.04.

CVS Health (NYSE:CVS – Get Rating) last released its earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.07. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. The company had revenue of $83.85 billion for the quarter, compared to the consensus estimate of $76.37 billion. During the same period in the prior year, the company posted $1.98 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that CVS Health Co. will post 8.84 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, April 21st will be paid a $0.605 dividend. The ex-dividend date is Thursday, April 20th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.25%. CVS Health’s dividend payout ratio (DPR) is presently 77.56%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVS shares. Jefferies Financial Group boosted their price target on shares of CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a report on Thursday, February 9th. TheStreet raised shares of CVS Health from a “c+” rating to a “b” rating in a report on Friday, November 25th. StockNews.com started coverage on shares of CVS Health in a report on Thursday. They issued a “buy” rating on the stock. Credit Suisse Group boosted their price target on shares of CVS Health from $117.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 21st. Finally, Morgan Stanley boosted their target price on shares of CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.65.

About CVS Health

(Get Rating)

CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.