CVS Health Co. (NYSE:CVS) Stake Boosted by Wealth Alliance

Wealth Alliance grew its stake in shares of CVS Health Co. (NYSE:CVS) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,928 shares of the pharmacy operator’s stock after acquiring an additional 236 shares during the period. Wealth Alliance’s holdings in CVS Health were worth $1,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVS. Live Oak Investment Partners bought a new stake in CVS Health in the fourth quarter worth $25,000. Atticus Wealth Management LLC boosted its holdings in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in CVS Health by 111.5% in 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 in the last quarter. PCA Investment Advisory Services Inc. bought a new stake in CVS Health in the second quarter worth $37,000. Finally, ZRC Wealth Management LLC boosted its holdings in CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.1 %

Shares of CVS opened at $69.03 on Wednesday. The stock has a market cap of $87.01 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 0.91 and a beta of 0.52. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a 50-day moving average price of $75.68 and a two-hundred day moving average price of $73.77.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.99 earnings per share. Equities analysts predict that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Wells Fargo & Company cut their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Barclays started coverage on shares of CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Royal Bank of Canada cut their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Finally, HSBC assumed coverage on shares of CVS Health in a research report on Friday, December 22nd. They set a “buy” rating and a $94.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, 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 SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

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.