Optimize Financial Inc Buys Shares of 8,158 CVS Health Co. (NYSE:CVS)

Optimize Financial Inc purchased a new stake in shares of CVS Health Co. (NYSE:CVS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,158 shares of the pharmacy operator’s stock, valued at approximately $366,000.

A number of other large investors have also recently bought and sold shares of CVS. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the 4th quarter worth approximately $29,000. Financial Perspectives Inc boosted its position in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the period. Finally, Compass Planning Associates Inc acquired a new position in CVS Health during the fourth quarter valued at approximately $37,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 0.9 %

CVS stock opened at $69.56 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market cap of $87.70 billion, a P/E ratio of 19.01, a P/E/G ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $71.66. The business’s 50 day moving average is $65.10 and its 200-day moving average is $58.51.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities analysts anticipate that CVS Health Co. will post 5.89 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 Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s payout ratio is 72.68%.

Insider Activity

In related news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of CVS Health from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company upped their price target on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Finally, Barclays upped their price target on CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.28.

CVS Health 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.