Sowell Financial Services LLC Grows Stock Position in CVS Health Co. (NYSE:CVS)

Sowell Financial Services LLC increased its holdings in CVS Health Co. (NYSE:CVS) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,370 shares of the pharmacy operator’s stock after acquiring an additional 5,689 shares during the period. Sowell Financial Services LLC’s holdings in CVS Health were worth $1,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in shares of CVS Health during the 4th quarter worth $65,000. Amundi lifted its position in CVS Health by 19.8% in the fourth quarter. Amundi now owns 7,059,915 shares of the pharmacy operator’s stock valued at $324,246,000 after buying an additional 1,165,992 shares during the last quarter. Intellectus Partners LLC boosted its stake in CVS Health by 14.4% during the fourth quarter. Intellectus Partners LLC now owns 7,721 shares of the pharmacy operator’s stock worth $347,000 after buying an additional 970 shares during the period. AMF Tjanstepension AB increased its position in shares of CVS Health by 542.2% during the fourth quarter. AMF Tjanstepension AB now owns 396,512 shares of the pharmacy operator’s stock valued at $17,799,000 after acquiring an additional 334,768 shares during the last quarter. Finally, Davis Selected Advisers lifted its holdings in shares of CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after acquiring an additional 11,018,438 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $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 currently owned by insiders.

CVS Health Stock Down 1.8 %

Shares of NYSE CVS opened at $65.13 on Tuesday. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a market capitalization of $82.11 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth 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. The business has a 50-day moving average of $56.84 and a two-hundred day moving average of $56.78.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.08%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

Several analysts recently weighed in on CVS shares. JPMorgan Chase & Co. lifted their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Truist Financial boosted their price objective on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. UBS Group lowered their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.83.

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.