AJOVista LLC Purchases New Holdings in CVS Health Co. (NYSE:CVS)

AJOVista LLC acquired a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,774 shares of the pharmacy operator’s stock, valued at approximately $140,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Bryn Mawr Capital Management LLC increased its position in shares of CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Value Partners Investments Inc. raised its stake in CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after buying an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC lifted its holdings in CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after acquiring an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its position in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after acquiring an additional 491 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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 disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on CVS. The Goldman Sachs Group decreased their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $58.00 in a research report on Wednesday. Finally, Truist Financial reissued a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Price Performance

Shares of CVS traded up $0.75 during midday trading on Friday, reaching $55.90. The stock had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. The firm’s 50 day moving average price is $72.77 and its 200-day moving average price is $73.26. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25. The company has a market capitalization of $70.18 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the firm posted $2.20 earnings per share. CVS Health’s revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

CVS Health 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.