HTLF Bank Makes New Investment in CVS Health Co. (NYSE:CVS)

HTLF Bank acquired a new stake in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,467 shares of the pharmacy operator’s stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Weik Capital Management raised its holdings in shares of CVS Health by 0.7% in the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after buying an additional 120 shares during the last quarter. FCA Corp TX raised its stake in CVS Health by 0.6% in the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock worth $2,035,000 after acquiring an additional 122 shares during the last quarter. Arvest Trust Co. N A lifted its position in CVS Health by 1.2% during the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock worth $1,040,000 after acquiring an additional 131 shares during the period. SOA Wealth Advisors LLC. grew its stake in CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares during the last quarter. Finally, Apella Capital LLC raised its stake in shares of CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVS. SVB Leerink began coverage on CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price on the stock. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Piper Sandler upped their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Finally, Royal Bank of Canada dropped their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Stock Performance

CVS opened at $69.75 on Friday. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The firm has a market capitalization of $87.92 billion, a PE ratio of 10.80, a PEG ratio of 0.92 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $75.29 and its 200 day moving average price is $73.70.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the previous year, the firm posted $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.81%. CVS Health’s dividend payout ratio is presently 41.18%.

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.