Tennessee Valley Asset Management Partners Invests $50,000 in CVS Health Co. (NYSE:CVS)

Tennessee Valley Asset Management Partners purchased a new position in shares of CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 632 shares of the pharmacy operator’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares in the last quarter. International Assets Investment Management LLC increased its position in CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board increased its position in CVS Health by 49.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares in the last quarter. Pacer Advisors Inc. increased its position in CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after purchasing an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in CVS Health during the 3rd quarter worth approximately $34,379,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Royal Bank of Canada decreased their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Wells Fargo & Company decreased their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Barclays initiated coverage on shares of CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. Finally, SVB Leerink initiated coverage on shares of CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Four 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 presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Down 1.6 %

Shares of NYSE CVS opened at $68.50 on Wednesday. The firm has a market cap of $86.34 billion, a PE ratio of 10.60, a P/E/G ratio of 0.92 and a beta of 0.52. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The company’s fifty day simple moving average is $74.97 and its 200 day simple moving average is $73.76. 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 (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. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same period last year, the firm earned $1.99 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Insider Activity

In other 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 value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate 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.