Waterway Wealth Management LLC Invests $262,000 in CVS Health Co. (NYSE:CVS)

Waterway Wealth Management LLC bought a new position in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,315 shares of the pharmacy operator’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Live Oak Investment Partners bought a new stake in CVS Health in the 4th quarter valued at $25,000. Atticus Wealth Management LLC grew its position in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC raised its holdings 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 acquiring an additional 400 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Thursday, February 8th. TD Cowen lowered their target price on shares of CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a report on Monday, December 11th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink assumed coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Finally, HSBC initiated coverage on shares of CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $90.21.

CVS Health Trading Up 0.4 %

Shares of NYSE:CVS traded up $0.34 during midday trading on Tuesday, hitting $79.32. The company had a trading volume of 8,214,640 shares, compared to its average volume of 11,340,696. The firm has a fifty day simple moving average of $75.57 and a 200 day simple moving average of $73.33. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a market cap of $99.82 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.04 and a beta of 0.51. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results 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 firm had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. On average, analysts predict that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.35%. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

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.