5,905 Shares in CVS Health Co. (NYSE:CVS) Purchased by Partners in Financial Planning

Partners in Financial Planning acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,905 shares of the pharmacy operator’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Norges Bank bought a new position in CVS Health in the 4th quarter valued at approximately $839,574,000. Davis Selected Advisers lifted its holdings in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in CVS Health in the 4th quarter worth about $116,033,000. Institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael F. Mahoney purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction 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 $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 Trading Down 0.7 %

CVS Health stock opened at $67.13 on Monday. 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 firm’s 50 day moving average price is $62.12 and its 200-day moving average price is $57.68. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $79.98. The stock has a market cap of $84.64 billion, a P/E ratio of 18.34, a PEG ratio of 0.98 and a beta of 0.54.

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

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s dividend payout ratio is currently 72.68%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVS. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Argus set a $77.00 target price on shares of CVS Health in a research note on Tuesday, February 18th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Truist Financial increased their target price on CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler raised their target price on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.39.

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.