Voya Investment Management LLC Grows Stake in CVS Health Co. (NYSE:CVS)

Voya Investment Management LLC boosted its position in CVS Health Co. (NYSE:CVS) by 331.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,872,542 shares of the pharmacy operator’s stock after purchasing an additional 2,206,299 shares during the period. Voya Investment Management LLC’s holdings in CVS Health were worth $128,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% during the 4th 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 last quarter. Stonebridge Financial Group LLC purchased a new stake in CVS Health during the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the fourth quarter worth about $29,000. Financial Perspectives Inc increased its stake in shares of CVS Health by 137.5% in 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 in the last quarter. Finally, MidAtlantic Capital Management Inc. lifted its stake in shares of CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 437 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVS shares. Wolfe Research lifted their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. UBS Group reduced their price target on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Robert W. Baird increased their price objective on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Finally, Truist Financial boosted their price objective on shares of CVS Health from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.83.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.22% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $65.86 on Friday. The firm has a market capitalization of $83.04 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $71.45. The business’s 50-day moving average price is $66.49 and its 200-day moving average price is $58.87.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio is presently 72.68%.

About CVS Health

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.