Beacon Harbor Wealth Advisors Inc. Invests $6.15 Million in CVS Health Co. (NYSE:CVS)

Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of CVS Health Co. (NYSE:CVS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 77,847 shares of the pharmacy operator’s stock, valued at approximately $6,147,000. CVS Health comprises approximately 1.8% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 19th biggest holding.

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

CVS Health Trading Down 2.8 %

Shares of NYSE CVS traded down $1.57 during trading hours on Thursday, hitting $54.74. The company’s stock had a trading volume of 27,130,127 shares, compared to its average volume of 11,469,678. The business has a 50-day simple moving average of $73.63 and a 200-day simple moving average of $73.50. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 0.90 and a beta of 0.56. 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 Co. has a 12 month low of $53.70 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the firm posted $2.20 earnings per share. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that CVS Health Co. will post 8.31 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. Stockholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 41.18%.

Insider Buying and Selling

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred 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 sale, the executive vice president now directly 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 SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Truist Financial reissued a “buy” rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a report on Thursday. Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Royal Bank of Canada dropped their price objective 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. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a research note on Wednesday. Finally, Barclays dropped their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $80.35.

CVS Health Company 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.