Copeland Capital Management LLC Takes $104,000 Position in CVS Health Co. (NYSE:CVS)

Copeland Capital Management LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,325 shares of the pharmacy operator’s stock, valued at approximately $104,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avantra Family Wealth Inc. bought a new position in CVS Health during the fourth quarter worth $506,000. Spire Wealth Management grew its holdings in CVS Health by 27.0% during the 4th quarter. Spire Wealth Management now owns 12,397 shares of the pharmacy operator’s stock worth $556,000 after acquiring an additional 2,634 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of CVS Health in the 4th quarter worth about $17,709,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of CVS Health by 4.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,110 shares of the pharmacy operator’s stock valued at $1,576,000 after purchasing an additional 1,450 shares during the period. Finally, Inlet Private Wealth LLC grew its stake in CVS Health by 6.8% during the fourth quarter. Inlet Private Wealth LLC now owns 68,246 shares of the pharmacy operator’s stock worth $3,064,000 after purchasing an additional 4,350 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Truist Financial cut their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Piper Sandler cut their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Stock Performance

Shares of CVS Health stock opened at $56.53 on Monday. The firm has a market capitalization of $71.13 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business’s fifty day simple moving average is $51.24 and its 200 day simple moving average is $56.16. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the firm earned $2.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts anticipate that CVS Health Co. will post 5.18 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.71%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 67.51%.

CVS Health Company 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.