Zhang Financial LLC Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Zhang Financial LLC raised its stake in CVS Health Co. (NYSE:CVS) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,617 shares of the pharmacy operator’s stock after acquiring an additional 1,240 shares during the period. Zhang Financial LLC’s holdings in CVS Health were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CVS. Live Oak Investment Partners acquired a new position in CVS Health in the fourth quarter valued at $25,000. Atticus Wealth Management LLC boosted its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares during the period. PCA Investment Advisory Services Inc. acquired a new stake in shares of CVS Health during the second quarter worth about $37,000. Finally, ZRC Wealth Management LLC boosted its stake in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. SVB Leerink started coverage on shares of CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following 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 SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

CVS Health Stock Up 1.5 %

Shares of NYSE CVS opened at $69.75 on Friday. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25. The firm’s 50 day moving average price is $75.29 and its 200 day moving average price is $73.70. The firm has a market cap of $87.92 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (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 firm had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the business earned $1.99 earnings per share. CVS Health’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.81%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.