Tectonic Advisors LLC Increases Stock Position in CVS Health Co. (NYSE:CVS)

Tectonic Advisors LLC lifted its holdings in CVS Health Co. (NYSE:CVS) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,497 shares of the pharmacy operator’s stock after buying an additional 1,619 shares during the quarter. Tectonic Advisors LLC’s holdings in CVS Health were worth $651,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the third quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the third quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the third quarter worth $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health during the third quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in CVS Health in the 3rd quarter worth about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CVS shares. Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, December 3rd. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial dropped their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

Shares of CVS Health stock opened at $55.62 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock’s fifty day moving average is $51.11 and its 200 day moving average is $56.06. The stock has a market cap of $69.99 billion, a P/E ratio of 14.12, a P/E/G ratio of 0.62 and a beta of 0.61. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.78%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.