Stonebridge Financial Group LLC Acquires Shares of 628 CVS Health Co. (NYSE:CVS)

Stonebridge Financial Group LLC bought a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 628 shares of the pharmacy operator’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC purchased a new position in shares of CVS Health during the 3rd quarter worth $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS Health stock opened at $65.71 on Friday. The business has a 50-day simple moving average of $50.90 and a 200-day simple moving average of $56.01. The company has a market cap of $82.68 billion, a PE ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. On average, equities research analysts forecast that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVS. Wolfe Research raised their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Four 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.28.

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.