Root Financial Partners LLC Makes New $248,000 Investment in CVS Health Co. (NYSE:CVS)

Root Financial Partners LLC purchased a new position in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,534 shares of the pharmacy operator’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after buying an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after purchasing an additional 10,465 shares during the last quarter. Cullinan Associates Inc. lifted its position in shares of CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its position in shares of CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. 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. Finally, 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. Four research 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 company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Trading Down 1.0 %

CVS stock opened at $65.71 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The firm has a market cap of $82.68 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61. The business’s 50 day moving average is $50.90 and its 200-day moving average is $56.01. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released 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 10.72% and a net margin of 1.36%. Equities analysts anticipate that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.05%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

About CVS Health

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.