Systematic Alpha Investments LLC Makes New Investment in CVS Health Co. (NYSE:CVS)

Systematic Alpha Investments LLC bought a new position in shares of CVS Health Co. (NYSE:CVSGet Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,404 shares of the pharmacy operator’s stock, valued at approximately $1,357,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in CVS Health by 2.8% in the fourth quarter. State Street Corp now owns 56,810,314 shares of the pharmacy operator’s stock valued at $5,860,552,000 after purchasing an additional 1,560,168 shares during the period. Capital International Investors lifted its stake in shares of CVS Health by 1.5% in the fourth quarter. Capital International Investors now owns 27,821,477 shares of the pharmacy operator’s stock valued at $2,870,096,000 after purchasing an additional 414,724 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CVS Health by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 22,099,200 shares of the pharmacy operator’s stock valued at $2,273,690,000 after purchasing an additional 408,181 shares in the last quarter. Veritas Asset Management LLP grew its stake in CVS Health by 1.1% in the 1st quarter. Veritas Asset Management LLP now owns 14,677,784 shares of the pharmacy operator’s stock worth $1,485,539,000 after acquiring an additional 163,000 shares during the period. Finally, Norges Bank purchased a new position in shares of CVS Health in the 4th quarter worth $1,346,805,000. Institutional investors and hedge funds own 78.00% of the company’s stock.

Insider Activity

In other CVS Health news, EVP Thomas M. Moriarty sold 138,654 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the sale, the executive vice president now owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total value of $13,172,130.00. Following the completion of the sale, the executive vice president now owns 626,273 shares of the company’s stock, valued at $59,495,935. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alan Lotvin sold 22,541 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total value of $2,344,264.00. Following the transaction, the executive vice president now directly owns 109,183 shares in the company, valued at $11,355,032. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVS shares. Deutsche Bank Aktiengesellschaft increased their target price on CVS Health from $113.00 to $120.00 in a research note on Thursday, August 4th. Credit Suisse Group lifted their target price on CVS Health from $113.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Loop Capital began coverage on CVS Health in a research report on Thursday, June 16th. They set a “buy” rating and a $120.00 price target on the stock. Sanford C. Bernstein lowered CVS Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $122.00 to $112.00 in a research report on Thursday, May 26th. Finally, Mizuho increased their target price on CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. Four 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, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $117.00.

CVS Health Price Performance

NYSE:CVS traded down $1.16 during mid-day trading on Wednesday, reaching $105.27. 175,346 shares of the stock were exchanged, compared to its average volume of 5,113,668. CVS Health Co. has a 1-year low of $81.78 and a 1-year high of $111.25. The company has a current ratio of 0.91, a quick ratio of 0.65 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $138.20 billion, a PE ratio of 17.31, a PEG ratio of 1.62 and a beta of 0.75. The business has a fifty day moving average price of $95.52 and a 200 day moving average price of $99.92.

CVS Health (NYSE:CVSGet Rating) last released its earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. The business had revenue of $80.64 billion for the quarter, compared to the consensus estimate of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. Research analysts expect that CVS Health Co. will post 8.53 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 22nd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, July 21st. CVS Health’s dividend payout ratio (DPR) is presently 35.77%.

CVS Health Company Profile

(Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Recommended Stories

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVSGet Rating).

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.