Stonebridge Financial Group LLC Purchases New Position in CVS Health Co. (NYSE:CVS)

Stonebridge Financial Group LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 628 shares of the pharmacy operator’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter worth approximately $25,000. Ridgewood Investments LLC grew its position in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC purchased a new position in CVS Health during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVS. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $75.00 in a research note on Thursday. Barclays boosted their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Leerink Partnrs upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Evercore ISI raised their target price on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Trading Down 1.0 %

Shares of CVS opened at $65.71 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a 50 day simple moving average of $50.90 and a 200-day simple moving average of $56.01. The stock has a market cap of $82.68 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. Equities analysts forecast that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio 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.