F M Investments LLC Takes $215,000 Position in CVS Health Co. (NYSE:CVS)

F M Investments LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,719 shares of the pharmacy operator’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also modified their holdings of CVS. SOA Wealth Advisors LLC. lifted its stake in shares of CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares during the period. Apella Capital LLC raised its stake in CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after buying an additional 136 shares during the period. Prairie Sky Financial Group LLC raised its stake in CVS Health by 4.1% during the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after buying an additional 141 shares during the period. WealthShield Partners LLC raised its stake in CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after buying an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC raised its stake in CVS Health by 9.5% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVS shares. Royal Bank of Canada lowered their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Wells Fargo & Company decreased their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Barclays began coverage on CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. SVB Leerink began coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on 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 of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

CVS Health Price Performance

Shares of NYSE CVS traded down $1.13 during midday trading on Tuesday, reaching $68.50. The company’s stock had a trading volume of 8,441,734 shares, compared to its average volume of 10,757,553. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The business’s 50 day moving average price is $74.97 and its two-hundred day moving average price is $73.76. The company has a market cap of $86.34 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the previous year, the business earned $1.99 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.88%. CVS Health’s dividend payout ratio (DPR) is 41.18%.

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.