Inceptionr LLC Acquires New Holdings in CVS Health Co. (NYSE:CVS)

Inceptionr LLC acquired a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,402 shares of the pharmacy operator’s stock, valued at approximately $602,000.

A number of other large investors have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised its holdings in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. Raymond James Financial Inc. bought a new position in CVS Health during the 4th quarter worth approximately $116,033,000. ARGA Investment Management LP raised its holdings in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after purchasing an additional 2,371,563 shares during the last quarter. State Street Corp raised its holdings in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. Finally, TOMS Capital Investment Management LP bought a new position in CVS Health during the 3rd quarter worth approximately $121,987,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $66.34 on Friday. 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 company has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. The firm’s fifty day moving average price is $56.42 and its two-hundred day moving average price is $56.76. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is 72.68%.

Wall Street Analyst Weigh In

CVS has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. TD Cowen lifted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Evercore ISI lifted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

Insider Buying and Selling

In related 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 cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, 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 this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

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.