CVS Health Co. (NYSE:CVS) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in shares of CVS Health Co. (NYSE:CVS) by 11.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,744 shares of the pharmacy operator’s stock after buying an additional 1,715 shares during the period. International Assets Investment Management LLC’s holdings in CVS Health were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in CVS Health during the fourth quarter worth approximately $221,000. Bleakley Financial Group LLC increased its holdings in CVS Health by 9.2% in the 4th quarter. Bleakley Financial Group LLC now owns 32,435 shares of the pharmacy operator’s stock valued at $2,561,000 after purchasing an additional 2,740 shares in the last quarter. Meeder Asset Management Inc. raised its position in CVS Health by 759.9% in the fourth quarter. Meeder Asset Management Inc. now owns 97,323 shares of the pharmacy operator’s stock valued at $7,685,000 after purchasing an additional 86,005 shares during the period. Equitable Trust Co. boosted its position in shares of CVS Health by 68.9% in the fourth quarter. Equitable Trust Co. now owns 27,282 shares of the pharmacy operator’s stock worth $2,154,000 after buying an additional 11,128 shares during the period. Finally, Signet Investment Advisory Group Inc. grew its stake in shares of CVS Health by 1.8% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 33,548 shares of the pharmacy operator’s stock valued at $2,649,000 after buying an additional 590 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVS shares. The Goldman Sachs Group lowered their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $87.00 to $58.00 in a research note on Wednesday, May 1st. Piper Sandler increased their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Bank of America cut their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Price Performance

Shares of CVS opened at $55.99 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market cap of $70.29 billion, a P/E ratio of 9.84, a PEG ratio of 0.88 and a beta of 0.56. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The stock has a fifty day moving average price of $70.46 and a 200 day moving average price of $72.73.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.75%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction 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 owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.