New Age Alpha Advisors LLC Acquires Shares of 74,655 CVS Health Co. (NYSE:CVS)

New Age Alpha Advisors LLC bought a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 74,655 shares of the pharmacy operator’s stock, valued at approximately $3,351,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC lifted its holdings in shares of CVS Health by 255.7% in the 4th 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 last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health in the fourth quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the third quarter valued at approximately $31,000. Finally, Financial Perspectives Inc lifted its stake in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after acquiring an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVS. UBS Group reduced their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Barclays raised their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. Finally, Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.39.

CVS Health Trading Down 0.7 %

CVS Health stock opened at $67.13 on Friday. CVS Health Co. has a one year low of $43.56 and a one year high of $79.98. The stock has a market cap of $84.64 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a 50-day moving average of $62.12 and a two-hundred day moving average of $57.67.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. On average, research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s payout ratio is presently 72.68%.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.