6,173 Shares in CVS Health Co. (NYSE:CVS) Bought by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. acquired a new position in shares of CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,173 shares of the pharmacy operator’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC increased its position in CVS Health by 17.1% during the 2nd quarter. Intech Investment Management LLC now owns 56,601 shares of the pharmacy operator’s stock valued at $3,343,000 after purchasing an additional 8,261 shares during the period. AE Wealth Management LLC raised its holdings in CVS Health by 12.3% during the 2nd quarter. AE Wealth Management LLC now owns 56,116 shares of the pharmacy operator’s stock worth $3,314,000 after purchasing an additional 6,151 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in CVS Health by 33.3% during the 2nd quarter. Summit Trail Advisors LLC now owns 14,282 shares of the pharmacy operator’s stock worth $843,000 after purchasing an additional 3,564 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in shares of CVS Health by 201.2% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 9,121 shares of the pharmacy operator’s stock worth $539,000 after acquiring an additional 6,093 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of CVS Health by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock worth $12,396,000 after acquiring an additional 17,281 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVS. Truist Financial lowered their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Piper Sandler dropped their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Up 1.5 %

NYSE:CVS opened at $52.72 on Monday. The firm has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average of $51.34 and a 200 day moving average of $56.32.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $2.21 earnings per share. On average, research analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.05%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

About CVS Health

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.