Old North State Wealth Management LLC Purchases 10,865 Shares of CVS Health Co. (NYSE:CVS)

Old North State Wealth Management LLC grew its holdings in CVS Health Co. (NYSE:CVS) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,720 shares of the pharmacy operator’s stock after purchasing an additional 10,865 shares during the quarter. CVS Health comprises about 2.1% of Old North State Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Old North State Wealth Management LLC’s holdings in CVS Health were worth $3,717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ARGA Investment Management LP increased its stake in CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of CVS Health by 14.1% in the 4th quarter. E. Ohman J or Asset Management AB now owns 57,350 shares of the pharmacy operator’s stock valued at $2,574,000 after buying an additional 7,070 shares during the period. Tandem Capital Management Corp ADV acquired a new position in CVS Health during the 4th quarter worth approximately $1,002,000. Jennison Associates LLC bought a new position in CVS Health in the fourth quarter worth approximately $14,099,000. Finally, Copeland Capital Management LLC acquired a new stake in CVS Health in the fourth quarter valued at approximately $104,000. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVS shares. TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Evercore ISI upped their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial cut their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

CVS Health stock opened at $56.39 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $51.16 and its 200 day simple moving average is $56.09. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a market cap of $70.96 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.