Monument Capital Management Takes $207,000 Position in CVS Health Co. (NYSE:CVS)

Monument Capital Management bought a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,622 shares of the pharmacy operator’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Atticus Wealth Management LLC lifted its position in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares during the last quarter. ZRC Wealth Management LLC raised its stake in 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 during the last quarter. Coston McIsaac & Partners raised its stake in CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in CVS Health in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.2 %

Shares of NYSE:CVS opened at $69.61 on Tuesday. The business has a 50-day moving average price of $75.13 and a 200 day moving average price of $73.77. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a market capitalization of $87.74 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.92 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period last year, the business posted $1.99 EPS. CVS Health’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insider Activity at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. SVB Leerink initiated coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company cut their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.44.

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.