Riverpoint Wealth Management Holdings LLC Buys New Holdings in CVS Health Co. (NYSE:CVS)

Riverpoint Wealth Management Holdings LLC bought a new stake in CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel reports. The fund bought 2,763 shares of the pharmacy operator’s stock, valued at approximately $218,000.

A number of other large investors have also recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares in the last quarter. Apella Capital LLC boosted its position in CVS Health by 4.2% in the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC boosted its position in CVS Health by 4.1% in the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after purchasing an additional 141 shares in the last quarter. WealthShield Partners LLC raised its stake in shares of 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 shares of 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.

CVS Health Trading Down 16.8 %

NYSE:CVS traded down $11.40 during trading hours on Wednesday, hitting $56.31. The company had a trading volume of 65,385,891 shares, compared to its average volume of 11,291,653. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $74.05 and a 200 day moving average of $73.62. The company has a market cap of $70.98 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.89 and a beta of 0.52. CVS Health Co. has a 1 year low of $54.00 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.99 EPS. Sell-side analysts expect that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Insider Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVS shares. Piper Sandler upped their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Wells Fargo & Company reduced their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Barclays started coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $87.00 to $58.00 in a research note on Wednesday. Finally, SVB Leerink reissued a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.28.

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.