Glassy Mountain Advisors Inc. Takes Position in CVS Health Co. (NYSE:CVS)

Glassy Mountain Advisors Inc. purchased a new stake in shares of CVS Health Co. (NYSE:CVS – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 73,758 shares of the pharmacy operator’s stock, valued at approximately $6,873,000. CVS Health makes up about 3.8% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its stake in shares of CVS Health by 105.8% during the third quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of CVS Health in the third quarter worth approximately $30,000. Coston McIsaac & Partners acquired a new position in shares of CVS Health in the second quarter worth approximately $34,000. Moisand Fitzgerald Tamayo LLC lifted its stake in shares of CVS Health by 63.6% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 368 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 143 shares during the period. Finally, Providence First Trust Co acquired a new position in shares of CVS Health in the third quarter worth approximately $42,000. 77.29% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 1.9 %

CVS Health stock traded down $1.46 during trading on Friday, hitting $74.37. 16,807,803 shares of the company were exchanged, compared to its average volume of 9,656,588. The business’s 50 day moving average is $85.40 and its 200 day moving average is $93.04. CVS Health Co. has a 52 week low of $73.91 and a 52 week high of $109.69. The company has a market capitalization of $95.50 billion, a P/E ratio of 23.84, a PEG ratio of 1.17 and a beta of 0.65. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.71.

CVS Health (NYSE:CVS – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.07. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. The business had revenue of $83.85 billion during the quarter, compared to the consensus estimate of $76.37 billion. During the same quarter in the prior year, the company posted $1.98 earnings per share. CVS Health’s revenue was up 9.5% compared to the same quarter last year. Analysts predict that CVS Health Co. will post 8.84 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, April 21st will be given a $0.605 dividend. The ex-dividend date is Thursday, April 20th. This represents a $2.42 annualized dividend and a yield of 3.25%. CVS Health’s dividend payout ratio is currently 77.56%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price objective on CVS Health from $117.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, November 21st. Jefferies Financial Group boosted their price target on CVS Health from $130.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. TheStreet raised CVS Health from a “c+” rating to a “b” rating in a research note on Friday, November 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of CVS Health in a research note on Thursday, February 9th. Finally, Morgan Stanley boosted their price target on CVS Health from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.65.

CVS Health Company Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.