Providence First Trust Co Invests $42,000 in CVS Health Co. (NYSE:CVS)

Providence First Trust Co purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 945 shares of the pharmacy operator’s stock, valued at approximately $42,000.

Several other hedge funds also recently made changes to their positions in CVS. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. ARGA Investment Management LP boosted its holdings in shares of CVS Health by 7,567.7% in the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after buying an additional 2,371,563 shares during the last quarter. State Street Corp boosted its holdings in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP acquired a new stake in shares of CVS Health in the 3rd quarter valued at approximately $121,987,000. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of CVS Health by 1,470.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock valued at $87,810,000 after buying an additional 1,307,531 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Up 2.1 %

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

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is currently 72.68%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen increased their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. UBS Group cut their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Evercore ISI raised their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.83.

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.