CVS Health Co. (NYSE:CVS) Stake Increased by Lipe & Dalton

Lipe & Dalton boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,015 shares of the pharmacy operator’s stock after buying an additional 270 shares during the period. Lipe & Dalton’s holdings in CVS Health were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after purchasing an additional 15,532,533 shares during the last quarter. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $1,425,416,000. FMR LLC increased its holdings in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the last quarter. Morgan Stanley lifted its stake in CVS Health by 10.9% in the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after acquiring an additional 3,311,928 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of CVS Health by 97.8% during the 2nd quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock worth $379,052,000 after purchasing an additional 2,711,102 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE:CVS traded up $0.07 during midday trading on Tuesday, reaching $69.03. 9,591,816 shares of the company’s stock were exchanged, compared to its average volume of 10,944,345. The firm has a market capitalization of $87.01 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. The company’s 50 day simple moving average is $75.78 and its two-hundred day simple moving average is $73.78. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 earnings per share. Equities research analysts expect that CVS Health Co. will post 8.33 earnings per share 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. Shareholders 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 3.85%. CVS Health’s payout ratio is presently 41.18%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVS. Cantor Fitzgerald reiterated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Piper Sandler increased their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. HSBC began coverage on shares of CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective for the company. Finally, Barclays initiated coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Activity

In related 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 completion of the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

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.