Tennessee Valley Asset Management Partners Acquires Shares of 632 CVS Health Co. (NYSE:CVS)

Tennessee Valley Asset Management Partners acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, HoldingsChannel reports. The fund acquired 632 shares of the pharmacy operator’s stock, valued at approximately $50,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after buying an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of CVS Health by 49.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock valued at $146,341,000 after buying an additional 698,054 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after buying an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $34,379,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVS shares. Barclays started coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. Piper Sandler upped their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Royal Bank of Canada dropped their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Finally, SVB Leerink assumed coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the 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 directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS opened at $68.50 on Wednesday. CVS Health Co. has a 52-week low of $64.41 and a 52-week high of $83.25. The stock has a market capitalization of $86.34 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company’s 50-day simple moving average is $74.97 and its two-hundred day simple moving average is $73.76.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that CVS Health Co. will post 8.32 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

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.