Riverpoint Wealth Management Holdings LLC Takes Position in CVS Health Co. (NYSE:CVS)

Riverpoint Wealth Management Holdings LLC purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,763 shares of the pharmacy operator’s stock, valued at approximately $218,000.

A number of other large investors also recently made changes to their positions in CVS. Bryn Mawr Capital Management LLC raised its position in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after acquiring an additional 18,385 shares during the period. Value Partners Investments Inc. grew 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 acquiring an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC grew its stake in CVS Health by 1.6% during 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 acquiring an additional 774 shares in the last quarter. Checchi Capital Advisers LLC grew its stake 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 acquiring an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its stake in CVS Health by 2.6% during the third 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 owned by institutional investors.

CVS Health Stock Down 16.8 %

Shares of NYSE:CVS traded down $11.40 during midday trading on Wednesday, reaching $56.31. The company’s stock had a trading volume of 65,385,891 shares, compared to its average volume of 11,291,653. The firm has a 50 day moving average of $74.05 and a 200-day moving average of $73.62. The firm has a market capitalization of $70.98 billion, a P/E ratio of 8.72, a PEG ratio of 0.89 and a beta of 0.52. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health Co. has a 12-month low of $54.00 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last released 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. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.99 EPS. On average, research analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Analyst Ratings Changes

A number of equities analysts have commented on CVS shares. Barclays started coverage on shares of CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $87.00 to $58.00 in a research note on Wednesday. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.28.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the 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 sale, 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 accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

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.