Tower Research Capital LLC TRC Boosts Stock Position in CVS Health Co. (NYSE:CVS)

Tower Research Capital LLC TRC raised its stake in shares of CVS Health Co. (NYSE:CVS) by 40.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,218 shares of the pharmacy operator’s stock after buying an additional 20,107 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CVS Health were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC boosted its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health during the 4th quarter valued at approximately $29,000. Financial Perspectives Inc grew its stake in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. Finally, Compass Planning Associates Inc purchased a new stake in shares of CVS Health in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CVS shares. Wolfe Research upped their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Argus set a $77.00 price target on shares of CVS Health in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.83.

CVS Health Stock Down 2.8 %

Shares of CVS stock opened at $65.38 on Tuesday. CVS Health Co. has a one year low of $43.56 and a one year high of $71.45. The stock has a market cap of $82.43 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The stock has a fifty day moving average price of $66.50 and a 200 day moving average price of $58.76. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

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 analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.07%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

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.