US Asset Management LLC Takes $378,000 Position in CVS Health Co. (NYSE:CVS)

US Asset Management LLC purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,788 shares of the pharmacy operator’s stock, valued at approximately $378,000.

Several other large investors have also recently bought and sold shares of the stock. SOA Wealth Advisors LLC. raised its holdings 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 valued at $226,000 after acquiring an additional 133 shares during the period. Apella Capital LLC boosted its position in shares of CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after acquiring an additional 136 shares during the period. Prairie Sky Financial Group LLC raised its stake 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 grew its position 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 purchasing an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of CVS Health by 9.5% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after buying an additional 142 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Bank of America decreased their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Leerink Partnrs cut shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Wells Fargo & Company decreased their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Mizuho reduced their target price on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Stock Performance

Shares of CVS stock traded up $0.76 during trading on Thursday, hitting $55.67. The company’s stock had a trading volume of 10,298,162 shares, compared to its average volume of 11,874,933. The company has a market cap of $69.89 billion, a PE ratio of 9.79, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $71.54 and a 200-day moving average of $72.96. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25.

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 the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.78%. CVS Health’s payout ratio is currently 46.75%.

Insider Buying and Selling

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction 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 owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Prem S. Shah sold 29,473 shares of the business’s 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 completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

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.