Beacon Harbor Wealth Advisors Inc. Invests $6.15 Million in CVS Health Co. (NYSE:CVS)

Beacon Harbor Wealth Advisors Inc. purchased a new position in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,847 shares of the pharmacy operator’s stock, valued at approximately $6,147,000. CVS Health makes up approximately 1.8% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 19th biggest position.

A number of other hedge funds have also bought and sold shares of CVS. Natixis Advisors L.P. increased its holdings in CVS Health by 30.5% in the 4th quarter. Natixis Advisors L.P. now owns 661,776 shares of the pharmacy operator’s stock worth $52,252,000 after buying an additional 154,481 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of CVS Health by 10.6% in the 4th quarter. Benjamin Edwards Inc. now owns 4,353 shares of the pharmacy operator’s stock valued at $344,000 after acquiring an additional 418 shares during the last quarter. Mechanics Financial Corp increased its stake in shares of CVS Health by 3.8% in the fourth quarter. Mechanics Financial Corp now owns 9,285 shares of the pharmacy operator’s stock worth $733,000 after acquiring an additional 339 shares during the period. LGT Group Foundation raised its holdings in shares of CVS Health by 2.2% during the fourth quarter. LGT Group Foundation now owns 23,467 shares of the pharmacy operator’s stock worth $1,853,000 after purchasing an additional 516 shares during the last quarter. Finally, Rogco LP boosted its holdings in CVS Health by 22.9% in the fourth quarter. Rogco LP now owns 11,148 shares of the pharmacy operator’s stock valued at $880,000 after purchasing an additional 2,078 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVS. Truist Financial reissued a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Royal Bank of Canada dropped their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $87.00 to $58.00 in a research note on Wednesday. Finally, Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Price Performance

Shares of CVS Health stock traded down $1.57 during trading hours on Thursday, reaching $54.74. 27,130,127 shares of the company’s stock were exchanged, compared to its average volume of 11,469,678. The business has a fifty day moving average of $73.63 and a two-hundred day moving average of $73.50. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $69.00 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, research analysts predict that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.86%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

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.