Wealthspire Advisors LLC Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Wealthspire Advisors LLC raised its holdings in CVS Health Co. (NYSE:CVS) by 10.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,962 shares of the pharmacy operator’s stock after buying an additional 1,468 shares during the period. Wealthspire Advisors LLC’s holdings in CVS Health were worth $717,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the third quarter worth approximately $32,000. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter valued at $28,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVS shares. Truist Financial boosted their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price target on CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Barclays increased their price objective on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

CVS Health Stock Up 1.0 %

CVS opened at $63.65 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The stock has a market capitalization of $80.24 billion, a P/E ratio of 17.39, a P/E/G ratio of 0.98 and a beta of 0.61. The business has a 50 day simple moving average of $53.11 and a 200-day simple moving average of $56.29.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, equities analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.18%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

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.