Advisors Asset Management Inc. Has $8.49 Million Stake in CVS Health Co. (NYSE:CVS)

Advisors Asset Management Inc. raised its holdings in CVS Health Co. (NYSE:CVS) by 41.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 189,208 shares of the pharmacy operator’s stock after acquiring an additional 55,542 shares during the quarter. Advisors Asset Management Inc.’s holdings in CVS Health were worth $8,494,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Ridgewood Investments LLC boosted its holdings in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health during the fourth quarter worth $28,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in CVS Health during the third quarter worth $40,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. UBS Group lowered their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. TD Cowen boosted their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Barclays raised their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

CVS Health Price Performance

CVS Health stock opened at $67.49 on Wednesday. The stock’s fifty day moving average price is $59.32 and its two-hundred day moving average price is $57.12. The firm has a market cap of $85.09 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health’s dividend payout ratio is currently 72.68%.

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.