CCM Investment Advisers LLC lifted its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 17.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,813 shares of the pharmacy operator’s stock after purchasing an additional 21,850 shares during the quarter. CCM Investment Advisers LLC’s holdings in CVS Health were worth $10,984,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Ancora Advisors LLC lifted its position in shares of CVS Health by 1.8% in the 4th quarter. Ancora Advisors LLC now owns 375,771 shares of the pharmacy operator’s stock worth $35,018,000 after purchasing an additional 6,741 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of CVS Health by 14.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,201,085 shares of the pharmacy operator’s stock valued at $89,253,000 after acquiring an additional 151,185 shares during the period. FOCUS Wealth Advisors LLC bought a new stake in CVS Health during the 1st quarter valued at $202,000. Personal Capital Advisors Corp increased its stake in CVS Health by 1.5% during the 4th quarter. Personal Capital Advisors Corp now owns 647,077 shares of the pharmacy operator’s stock valued at $60,301,000 after purchasing an additional 9,424 shares in the last quarter. Finally, Ethic Inc. grew its stake in shares of CVS Health by 149.9% in the 1st quarter. Ethic Inc. now owns 111,303 shares of the pharmacy operator’s stock worth $8,271,000 after acquiring an additional 66,770 shares in the last quarter. 75.99% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of CVS Health from $120.00 to $88.00 in a report on Tuesday, July 11th. Piper Sandler lowered their price target on CVS Health from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Friday, September 1st. JPMorgan Chase & Co. lowered their price target on CVS Health from $114.00 to $106.00 in a research report on Friday, July 7th. Barclays lowered their price target on CVS Health from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, August 3rd. Finally, StockNews.com assumed coverage on CVS Health in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.
Insiders Place Their Bets
In related news, SVP James David Clark sold 25,759 shares of CVS Health stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $74.92, for a total transaction of $1,929,864.28. Following the completion of the transaction, the senior vice president now directly owns 4,698 shares in the company, valued at $351,974.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.
CVS Health Stock Performance
CVS stock opened at $70.53 on Wednesday. The firm has a market cap of $90.59 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.24 and a beta of 0.63. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.84. CVS Health Co. has a twelve month low of $64.62 and a twelve month high of $104.83. The business’s fifty day simple moving average is $70.77 and its two-hundred day simple moving average is $72.05.
CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The pharmacy operator reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09. The firm had revenue of $88.92 billion for the quarter, compared to analyst estimates of $86.41 billion. CVS Health had a return on equity of 15.43% and a net margin of 0.86%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 earnings per share. Analysts predict that CVS Health Co. will post 8.61 earnings per share for the current year.
CVS Health Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 21st were issued a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.43%. The ex-dividend date was Thursday, July 20th. CVS Health’s dividend payout ratio is presently 106.14%.
CVS Health Profile
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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