CVS Health Co. (NYSE:CVS) Shares Bought by Secure Asset Management LLC

Secure Asset Management LLC grew its stake in shares of CVS Health Co. (NYSE:CVS) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,271 shares of the pharmacy operator’s stock after buying an additional 4,024 shares during the period. Secure Asset Management LLC’s holdings in CVS Health were worth $1,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its stake in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the period. Livelsberger Financial Advisory acquired a new stake in CVS Health during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter valued at $32,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS stock opened at $53.87 on Friday. The company’s fifty day moving average price is $51.23 and its two-hundred day moving average price is $56.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $67.79 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. On average, research analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Truist Financial cut their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $68.71.

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.