Kovack Advisors Inc. Has $2 Million Stock Position in CVS Health Co. (NYSE:CVS)

Kovack Advisors Inc. lifted its holdings in CVS Health Co. (NYSE:CVS) by 66.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,278 shares of the pharmacy operator’s stock after purchasing an additional 10,050 shares during the quarter. Kovack Advisors Inc.’s holdings in CVS Health were worth $1,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Atticus Wealth Management LLC raised its position in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC boosted its stake in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 400 shares during the period. Coston McIsaac & Partners increased its holdings in shares of CVS Health by 42.6% during the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in CVS Health during the fourth quarter worth $50,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.2 %

NYSE CVS traded down $0.15 on Friday, hitting $67.18. 6,396,438 shares of the company were exchanged, compared to its average volume of 8,376,818. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. 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 company has a market cap of $84.68 billion, a PE ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. The stock has a fifty day moving average of $74.42 and a 200-day moving average of $73.64.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period last year, the business earned $1.99 EPS. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts forecast that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

Wall Street Analyst Weigh In

CVS has been the subject of several research analyst reports. SVB Leerink initiated coverage on shares of CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price for the company. Royal Bank of Canada reduced their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective 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. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was 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 in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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.