CVS Health Co. (NYSE:CVS) Shares Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 7.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,300 shares of the pharmacy operator’s stock after purchasing an additional 2,100 shares during the quarter. Cornerstone Advisors LLC’s holdings in CVS Health were worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. purchased a new stake in shares of CVS Health in the third quarter valued at about $25,000. Ridgewood Investments LLC raised 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 valued at $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of CVS Health in the 4th quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the 3rd quarter worth about $31,000. Finally, Financial Perspectives Inc lifted its stake in CVS Health by 137.5% in the fourth 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. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.8 %

NYSE CVS opened at $65.13 on Tuesday. The business has a 50 day simple moving average of $56.84 and a 200 day simple moving average of $56.78. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a market capitalization of $82.11 billion, a P/E ratio of 17.79, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS 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%. Research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.08%. CVS Health’s dividend payout ratio is currently 72.68%.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This 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 currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, UBS Group reduced their price target on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

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.