Kestra Investment Management LLC Acquires 1,384 Shares of CVS Health Co. (NYSE:CVS)

Kestra Investment Management LLC grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 25.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,806 shares of the pharmacy operator’s stock after acquiring an additional 1,384 shares during the period. Kestra Investment Management LLC’s holdings in CVS Health were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the third quarter valued at about $25,000. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% during 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 in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new position in CVS Health during the third quarter valued at approximately $32,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVS. Royal Bank of Canada lowered their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. UBS Group cut their price objective on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Activity

In other CVS Health news, 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 price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $66.35 on Thursday. The firm has a market capitalization of $83.65 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business has a 50 day simple moving average of $51.80 and a 200-day simple moving average of $56.12. CVS Health Co. has a 1 year low of $43.56 and a 1 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 EPS 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%. Equities analysts forecast that CVS Health Co. will post 5.92 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s 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.