LGT Group Foundation Purchases 516 Shares of CVS Health Co. (NYSE:CVS)

LGT Group Foundation grew its position in CVS Health Co. (NYSE:CVS) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,467 shares of the pharmacy operator’s stock after acquiring an additional 516 shares during the quarter. LGT Group Foundation’s holdings in CVS Health were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares in the last quarter. Cornerstone Planning Group LLC raised its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares during the period. ZRC Wealth Management LLC lifted its stake in shares of CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after purchasing an additional 400 shares during the last quarter. Coston McIsaac & Partners boosted its holdings in shares of CVS Health by 42.6% in the 4th quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of CVS Health during the 4th quarter valued at approximately $50,000. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CVS. Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $87.00 to $58.00 in a research report on Wednesday. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Truist Financial restated a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday. Wells Fargo & Company decreased their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Finally, The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.35.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.4 %

CVS opened at $55.90 on Friday. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The stock has a fifty day moving average price of $73.19 and a 200-day moving average price of $73.37. The firm has a market cap of $70.17 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.86 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. CVS Health’s dividend payout ratio is currently 46.75%.

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.