Lebenthal Global Advisors LLC Takes $241,000 Position in CVS Health Co. (NYSE:CVS)

Lebenthal Global Advisors LLC purchased a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,048 shares of the pharmacy operator’s stock, valued at approximately $241,000.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. acquired a new position in CVS Health in the 4th quarter valued at about $3,236,000. First Western Trust Bank acquired a new position in CVS Health in the 4th quarter valued at about $455,000. Jupiter Wealth Management LLC raised its stake in CVS Health by 15.9% in the 4th quarter. Jupiter Wealth Management LLC now owns 31,748 shares of the pharmacy operator’s stock valued at $2,507,000 after purchasing an additional 4,347 shares during the last quarter. Laraway Financial Advisors Inc raised its stake in CVS Health by 12.2% in the 4th quarter. Laraway Financial Advisors Inc now owns 2,625 shares of the pharmacy operator’s stock valued at $207,000 after purchasing an additional 285 shares during the last quarter. Finally, Patton Albertson Miller Group LLC raised its stake in CVS Health by 4.9% in the 4th quarter. Patton Albertson Miller Group LLC now owns 89,997 shares of the pharmacy operator’s stock valued at $7,106,000 after purchasing an additional 4,179 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $55.82 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a one year low of $53.70 and a one year high of $83.25. The stock’s 50 day moving average price is $70.81 and its 200 day moving average price is $72.75. The firm has a market capitalization of $70.07 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.87 and a beta of 0.56.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the company posted $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the topic of several recent analyst reports. Barclays reduced their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada decreased their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Truist Financial reaffirmed a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Argus cut their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $76.75.

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.