Sheets Smith Wealth Management Boosts Holdings in CVS Health Co. (NYSE:CVS)

Sheets Smith Wealth Management grew its position in shares of CVS Health Co. (NYSE:CVS) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,554 shares of the pharmacy operator’s stock after purchasing an additional 803 shares during the period. Sheets Smith Wealth Management’s holdings in CVS Health were worth $1,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. CVA Family Office LLC raised its stake in shares of CVS Health by 173.7% during the third quarter. CVA Family Office LLC now owns 457 shares of the pharmacy operator’s stock valued at $27,000 after purchasing an additional 290 shares during the period. Ellis Investment Partners LLC raised its stake in shares of CVS Health by 47.0% during the third quarter. Ellis Investment Partners LLC now owns 541 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 173 shares during the period. Liberty Wealth Management LLC raised its stake in shares of CVS Health by 108.9% during the third quarter. Liberty Wealth Management LLC now owns 631 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 329 shares during the period. Dimension Capital Management LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $47,000. Finally, Advisory Alpha LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $48,000. Institutional investors own 74.21% of the company’s stock.

In other CVS Health news, EVP Alan Lotvin sold 25,836 shares of the firm’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $75.00, for a total value of $1,937,700.00. Following the sale, the executive vice president now owns 18,469 shares in the company, valued at $1,385,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Bisaccia sold 25,177 shares of the firm’s stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $77.00, for a total transaction of $1,938,629.00. Following the completion of the sale, the executive vice president now owns 71,765 shares in the company, valued at approximately $5,525,905. The disclosure for this sale can be found here. Insiders have sold a total of 58,151 shares of company stock valued at $4,375,989 over the last three months. 0.46% of the stock is currently owned by company insiders.

A number of analysts have recently weighed in on the stock. SVB Leerink raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “market perform” rating in a research report on Monday, December 14th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, November 9th. Jefferies Financial Group raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Friday, January 8th. BidaskClub raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. Finally, Piper Sandler raised their price target on shares of CVS Health from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $82.93.

CVS Health stock traded down $1.34 during mid-day trading on Wednesday, reaching $74.92. The company’s stock had a trading volume of 6,183,425 shares, compared to its average volume of 8,405,203. The firm has a market cap of $98.06 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.69 and a beta of 0.82. The business has a 50 day moving average price of $70.40 and a 200-day moving average price of $64.26. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. CVS Health Co. has a twelve month low of $52.04 and a twelve month high of $77.23.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 11th. The pharmacy operator reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The firm had revenue of $67.05 billion during the quarter, compared to the consensus estimate of $66.54 billion. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, equities analysts expect that CVS Health Co. will post 7.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, January 21st. CVS Health’s payout ratio is 28.25%.

CVS Health Profile

CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

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