Wealthspire Advisors LLC Boosts Holdings in CVS Health Co. (NYSE:CVS)

Wealthspire Advisors LLC grew its stake in CVS Health Co. (NYSE:CVS) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,962 shares of the pharmacy operator’s stock after buying an additional 1,468 shares during the quarter. Wealthspire Advisors LLC’s holdings in CVS Health were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CVS. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. ARGA Investment Management LP grew its position in CVS Health by 7,567.7% during the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock valued at $107,866,000 after buying an additional 2,371,563 shares during the period. State Street Corp increased its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP acquired a new position in shares of CVS Health in the third quarter worth about $121,987,000. Finally, Pathway Financial Advisers LLC boosted its stake in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CVS. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Stock Up 1.0 %

Shares of NYSE:CVS opened at $63.65 on Wednesday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $53.11 and a two-hundred day moving average of $56.29. The stock has a market cap of $80.24 billion, a P/E ratio of 17.39, a PEG ratio of 0.98 and a beta of 0.61.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. CVS Health’s payout ratio is currently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is 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.