Financial Advisors Network Inc. Invests $218,000 in CVS Health Co. (NYSE:CVS)

Financial Advisors Network Inc. acquired a new position in CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,766 shares of the pharmacy operator’s stock, valued at approximately $218,000.

Other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC acquired a new position in shares of CVS Health in the fourth quarter valued at $65,083,000. InterOcean Capital Group LLC grew its stake in shares of CVS Health by 96.2% in the fourth quarter. InterOcean Capital Group LLC now owns 245,386 shares of the pharmacy operator’s stock valued at $19,376,000 after acquiring an additional 120,327 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of CVS Health by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 10,565,389 shares of the pharmacy operator’s stock valued at $834,243,000 after acquiring an additional 146,378 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of CVS Health by 12.8% in the fourth quarter. Brandes Investment Partners LP now owns 1,383,429 shares of the pharmacy operator’s stock valued at $109,236,000 after acquiring an additional 156,562 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of CVS Health by 34.0% in the fourth quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock valued at $610,000 after acquiring an additional 1,961 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Down 0.4 %

CVS traded down $0.24 on Thursday, hitting $57.20. 2,299,837 shares of the company were exchanged, compared to its average volume of 11,850,249. The stock has a market capitalization of $71.81 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The firm has a fifty day simple moving average of $67.98 and a two-hundred day simple moving average of $72.13. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS. Sell-side analysts expect that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CVS shares. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Barclays cut their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.75.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

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.