Xponance Inc. Has $13.82 Million Position in CVS Health Co. (NYSE:CVS)

Xponance Inc. cut its position in CVS Health Co. (NYSE:CVS) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,964 shares of the pharmacy operator’s stock after selling 1,088 shares during the quarter. Xponance Inc.’s holdings in CVS Health were worth $13,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Moneta Group Investment Advisors LLC increased its position in CVS Health by 103,371.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after purchasing an additional 15,532,533 shares in the last quarter. Norges Bank acquired a new position in CVS Health during the 4th quarter worth approximately $1,425,416,000. 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. Morgan Stanley increased its position in CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after purchasing an additional 3,311,928 shares in the last quarter. Finally, Barclays PLC increased its position in CVS Health by 97.8% during the 2nd quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock worth $379,052,000 after purchasing an additional 2,711,102 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Barclays initiated coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Finally, HSBC began coverage on shares of CVS Health in a report on Friday, December 22nd. They set a “buy” rating and a $94.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

CVS Health Stock Up 0.5 %

NYSE CVS traded up $0.34 on Friday, hitting $69.07. 758,308 shares of the company were exchanged, compared to its average volume of 10,760,354. The company has a market cap of $87.06 billion, a PE ratio of 10.74, a PEG ratio of 0.91 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 stock has a fifty day moving average of $75.42 and a 200-day moving average of $73.70. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.99 earnings per share. As a group, analysts forecast that CVS Health Co. will post 8.32 earnings per share for the current 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 issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.85%. CVS Health’s payout ratio is 41.18%.

Insiders Place Their Bets

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. Corporate insiders own 0.24% of the company’s stock.

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.