Patriot Financial Group Insurance Agency LLC Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Patriot Financial Group Insurance Agency LLC boosted its position in CVS Health Co. (NYSE:CVS) by 35.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,240 shares of the pharmacy operator’s stock after purchasing an additional 5,569 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in CVS Health were worth $1,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CVS. Fulcrum Equity Management acquired a new position in shares of CVS Health during the 4th quarter worth approximately $222,000. Precedent Wealth Partners LLC purchased a new stake in CVS Health in the 4th quarter worth approximately $384,000. Prairie Sky Financial Group LLC grew its stake in CVS Health by 4.1% in the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after acquiring an additional 141 shares during the period. MBL Wealth LLC purchased a new stake in CVS Health in the 4th quarter worth approximately $227,000. Finally, Caprock Group LLC grew its stake in CVS Health by 6.7% in the 4th quarter. Caprock Group LLC now owns 29,933 shares of the pharmacy operator’s stock worth $2,364,000 after acquiring an additional 1,885 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of 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 reiterated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Thursday, February 8th. Barclays began coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective on the stock. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, TD Cowen cut their target price on shares of CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.21.

CVS Health Price Performance

NYSE:CVS traded up $0.33 during mid-day trading on Friday, hitting $79.76. The company’s stock had a trading volume of 8,981,310 shares, compared to its average volume of 9,174,262. 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 capitalization of $100.37 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.05 and a beta of 0.51. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The stock has a fifty day moving average of $75.78 and a 200-day moving average of $73.51.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. 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 prior year, the firm earned $1.99 earnings per share. CVS Health’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health Co. will post 8.33 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 dividend on an annualized basis and a dividend yield of 3.34%. CVS Health’s payout ratio is 41.18%.

Insider Buying and Selling at CVS Health

In other 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 value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% 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.