Resolute Wealth Strategies LLC Buys Shares of 2,666 CVS Health Co. (NYSE:CVS)

Resolute Wealth Strategies LLC acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,666 shares of the pharmacy operator’s stock, valued at approximately $211,000.

A number of other hedge funds also recently made changes to their positions in the stock. Bryn Mawr Capital Management LLC boosted its holdings in shares of CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares in the last quarter. Value Partners Investments Inc. grew its position in CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after acquiring an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC raised its stake in shares of CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after acquiring an additional 774 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after purchasing an additional 491 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

CVS Health Stock Up 1.4 %

CVS Health stock traded up $0.75 on Friday, hitting $55.90. 23,946,075 shares of the stock traded hands, compared to its average volume of 12,498,538. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25. The firm has a market cap of $70.18 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The business’s fifty day simple moving average is $72.77 and its 200 day simple moving average is $73.26.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business earned $2.20 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVS. Wells Fargo & Company reduced their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Barclays reduced their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America dropped their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho decreased their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $87.00 to $58.00 in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.35.

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.