Grant GrossMendelsohn LLC Has $811,000 Position in CVS Health Co. (NYSE:CVS)

Grant GrossMendelsohn LLC increased its stake in shares of CVS Health Co. (NYSE:CVS) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,112 shares of the pharmacy operator’s stock after buying an additional 1,970 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in CVS Health were worth $811,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVS. Live Oak Investment Partners acquired a new stake in shares of CVS Health in the 4th quarter valued at $25,000. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new position in shares of CVS Health in the 2nd quarter valued at $37,000. Finally, ZRC Wealth Management LLC lifted its stake in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.32 during midday trading on Monday, reaching $68.96. The company’s stock had a trading volume of 7,231,266 shares, compared to its average volume of 10,963,071. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The firm has a 50 day moving average price of $75.85 and a 200-day moving average price of $73.78. The stock has a market capitalization of $86.92 billion, a P/E ratio of 10.67, a PEG ratio of 0.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share 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 firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the previous year, the business earned $1.99 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that CVS Health Co. will post 8.33 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.86%. CVS Health’s payout ratio is presently 41.18%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research reports. Piper Sandler increased their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Royal Bank of Canada dropped 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. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. HSBC assumed coverage on CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price target for the company. Finally, Barclays assumed coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.