Keynote Financial Services LLC Boosts Holdings in CVS Health Co. (NYSE:CVS)

Keynote Financial Services LLC increased its stake in CVS Health Co. (NYSE:CVS) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,385 shares of the pharmacy operator’s stock after buying an additional 4,034 shares during the period. CVS Health accounts for about 1.1% of Keynote Financial Services LLC’s portfolio, making the stock its 23rd largest position. Keynote Financial Services LLC’s holdings in CVS Health were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in CVS Health during the fourth quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth about $32,000. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

NYSE:CVS opened at $65.85 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $54.33 and its 200 day moving average price is $56.47. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a market cap of $83.02 billion, a P/E ratio of 17.99, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Buying and Selling

In other news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVS shares. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.83.

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.