CX Institutional Buys 26,178 Shares of CVS Health Co. (NYSE:CVS)

CX Institutional increased its position in CVS Health Co. (NYSE:CVS) by 35.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,787 shares of the pharmacy operator’s stock after buying an additional 26,178 shares during the quarter. CX Institutional’s holdings in CVS Health were worth $4,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Southland Equity Partners LLC raised its holdings in CVS Health by 44.0% in the fourth quarter. Southland Equity Partners LLC now owns 4,985 shares of the pharmacy operator’s stock worth $224,000 after purchasing an additional 1,523 shares in the last quarter. Secure Asset Management LLC increased its stake in shares of CVS Health by 13.8% in the 4th quarter. Secure Asset Management LLC now owns 33,271 shares of the pharmacy operator’s stock worth $1,494,000 after acquiring an additional 4,024 shares in the last quarter. Donoghue Forlines LLC bought a new stake in CVS Health during the fourth quarter worth about $1,400,000. SG Americas Securities LLC grew its holdings in CVS Health by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 28,801 shares of the pharmacy operator’s stock worth $1,293,000 after purchasing an additional 9,234 shares during the period. Finally, Perfromance Wealth Partners LLC purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $475,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $54.71 on Friday. The stock has a market cap of $68.84 billion, a PE ratio of 13.88, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $51.21 and its two-hundred day simple moving average is $56.22. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.21 earnings per share. As a group, analysts forecast that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. CVS Health’s payout ratio is currently 67.51%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CVS shares. Truist Financial reduced their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI lifted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.71.

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.