Altfest L J & Co. Inc. Takes $543,000 Position in CVS Health Co. (NYSE:CVS)

Altfest L J & Co. Inc. acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,882 shares of the pharmacy operator’s stock, valued at approximately $543,000.

Other institutional investors also recently bought and sold shares of the company. Weik Capital Management increased its position in CVS Health by 0.7% during the 1st quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after purchasing an additional 120 shares during the period. FCA Corp TX lifted its holdings in shares of CVS Health by 0.6% in the first quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after purchasing an additional 122 shares in the last quarter. Arvest Trust Co. N A grew its position in shares of CVS Health by 1.2% in the fourth quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock valued at $1,040,000 after purchasing an additional 131 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in shares of CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares during the last quarter. Finally, Apella Capital LLC lifted its stake in CVS Health by 4.2% in the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after buying an additional 136 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.61 during midday trading on Thursday, hitting $80.04. 5,501,371 shares of the company’s stock were exchanged, compared to its average volume of 11,233,035. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The stock’s 50 day moving average price is $75.61 and its 200-day moving average price is $73.42. The firm has a market cap of $100.73 billion, a P/E ratio of 12.44, a PEG ratio of 1.05 and a beta of 0.51.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the previous year, the firm earned $1.99 EPS. CVS Health’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.32%. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Wall Street Analyst Weigh In

CVS has been the topic of several recent research reports. TD Cowen reduced their price objective on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research report on Monday, December 11th. Piper Sandler increased their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. HSBC began coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price for the company. Finally, SVB Leerink assumed coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $90.21.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.